First Solar (FSLR) Crosses Pivot Point Support at $30.48
First Solar (NASDAQ:FSLR) has opened bearishly below the pivot of $31.11 today and has reached the first level of support at $30.48. Should the shares continue to fall, the support pivots of $30.03 and $28.95 will be of interest.
In the past 52 weeks, shares of First Solar have traded between a low of $11.43 and a high of $50.20 and are now at $30.03, which is 163% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 4.3% while the 200-day MA has risen 0.4%.
Based on a current price of $30.03, First Solar is currently 25.9% above its average consensus analyst price target of $22.25. First Solar shares have support at the 50-day moving average (MA) of $26.21 and additional support at the 200-day MA of $20.88.
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 22.6%. We continue to monitor FSLR for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: pivot alerts First Solar