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First Solar Inc Set to Possibly Rebound After Yesterday's Selloff of 8.59%

By David Diaz

First Solar Inc (NASDAQ:FSLR) traded in a range yesterday that spanned from a low of $52.75 to a high of $55.69. Yesterday, the shares fell 8.6%, which took the trading range below the 3-day low of $55.83 on volume of 2.0 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

In the past 52 weeks, shares of First Solar Inc have traded between a low of $45.77 and a high of $69.24 and are now at $53.73, which is 17% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.6% while the 200-day MA has remained constant.

SmarTrend is tracking the current trend status for First Solar Inc and will alert subscribers who have FSLR in their portfolio or watchlist when shares have changed trend direction.

Keywords: rebounders first solar inc

Ticker(s): FSLR