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Bullish Moving Average Cross by First Solar (FSLR)

By David Diaz

First Solar (NASDAQ:FSLR) shares have crossed bullishly above their 10-day moving average of $37.56 on a volume of 858K shares. This may provide swing traders with an opportunity for a long position, as such a crossover often suggests higher prices in the near term.

Over the past year, First Solar has traded in a range of $36.75 to $74.29 and is now at $37.79, 3% above that low. Over the last five market days, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has declined 1.4%.

SmarTrend recommended that its subscribers protect gains by selling shares of First Solar on April 5th, 2016 by issuing a Downtrend alert when the shares were trading at $64.14. Since that call, shares of First Solar have fallen 42.2%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: moving crosses First Solar

Ticker(s): FSLR