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After Yesterday's Rally of 2.32% Shares Could Potentially Pullback

By Nick Russo

First Solar Inc (NASDAQ:FSLR) traded in a range yesterday that spanned from a low of $42.54 to a high of $44.66. Yesterday, the shares gained 2.3%, which took the trading range above the 3-day high of $43.40 on volume of 1.8 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

First Solar Inc share prices have moved between a 52-week high of $49.51 and a 52-week low of $25.56 and are now trading 71% above that low price at $43.71 per share. Over the past week, 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 43.0%. 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