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First Solar Crosses Below its 10-day MA (FSLR)

By Nick Russo

Today, shares of First Solar (NASDAQ:FSLR) have crossed bearishly below their 10-day moving average of $48.83 on a volume of 362K shares. Swing traders may find an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

In the past 52 weeks, shares of First Solar have traded between a low of $40.25 and a high of $74.29 and are now at $48.27, which is 20% above that low price. The 200-day and 50-day moving averages have moved 0.31% higher and 1.42% lower over the past week, respectively.

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 23.1%. 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