Monday, January 24, 2011

And That's a New 52-Week High for First Solar (FSLR)

The stock closed at $156.40 up $8.99 on the day. It cleared a lot of congestion today on heavy volume, $165 looks like the next resistance.

As foretold by the prophesy:

Jan. 13, 2011
First Solar Continues Breakout (FSLR)

Today it's up another buck at $140.83.
I'd expect the stock to consolidate in this area until next weeks option expiration before moving higher.
FSLR has a history of getting pinned at strike prices, but there is serious "pick off the offer" coming into the stock.
The fifty-two week high of $153.30 seems like the target. 

Jan. 19 
First Solar: Setting up for a new 52-Week High (FSLR)

Jan. 10, 2011:
"...Solar stocks are poised to rebound sharply in 2011..." (FSLR; SOL; TSL)

You don't have to hit me upside the head more than a couple times.
When First Solar was up $3.00 earlier this morning I thought " Say.... Something may be happening".
Currently up $1.70 at $135.28....

Jan. 18, 2011
First Solar "Holy Uptick Batman" (FSLR)
...Today the stock is up $7.11 to $147.95, so much for that $140 strike price.
That is some serious "pick off the offer" buying. and I have no idea why....
Jan. 24, 2011
Aha! "Goldman Sachs added First Solar to its Conviction Buy List" (FSLR)

In early pre-market action the stock is up $3.67 at $151.08. Our target for this go-round was the 52-week high of $153.30.
21 points in 14 days, all because of that Jan. 10 observation: "Say...something may be happening".