First Solar Crosses Below its 10-day MA (FSLR)
Today, shares of First Solar (NASDAQ:FSLR) have crossed bearishly below their 10-day moving average of $31.81 on a volume of 1.4 million shares. This may provide swing traders with an opportunity for a short position, as such a crossover often suggests lower prices in the near term.
In the past 52 weeks, First Solar share prices have been bracketed by a low of $11.43 and a high of $50.20 and are now at $31.31, 174% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.5% while the 50-day MA has advanced 3.8%.
SmarTrend recommended that subscribers consider buying shares of First Solar on October 17th, 2012 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $25.22. Since that recommendation, shares of First Solar have risen 27.9%. We continue to monitor FSLR for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: moving crosses First Solar