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After Yesterday's Rally of 2.29% Shares Could Potentially Pullback

By James Quinn

First Solar Inc (NASDAQ:FSLR) traded in a range yesterday that spanned from a low of $47.13 to a high of $48.74. Yesterday, the shares gained 2.3%, which took the trading range above the 3-day high of $47.89 on volume of 695,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

In the past 52 weeks, First Solar Inc share prices have been bracketed by a low of $25.56 and a high of $50.21 and are now at $48.60, 90% above that low price. 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 subscribers consider buying shares of First Solar Inc on April 28th, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $29.87. Since that recommendation, shares of First Solar Inc have risen 59.2%. We continue to monitor FSLR for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders first solar inc

Ticker(s): FSLR