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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 $47.70 on a volume of 477K 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.

First Solar share prices have moved between a 52-week high of $74.29 and a 52-week low of $40.25 and are now trading 19% above that low price at $47.93 per share. In the last five trading sessions, the 50-day moving average (MA) has fallen 1.4% while the 200-day MA has risen 0.3%.

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 27.7%. 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