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First Solar Rises 5.10% on Heavy Volume: Watch For Potential Pullback

By Amy Schwartz

First Solar (NASDAQ:FSLR) traded in a range yesterday that spanned from a low of $39.55 to a high of $41.70. Yesterday, the shares gained 5.1%, which took the trading range above the 3-day high of $39.97 on volume of 2.2 million 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, shares of First Solar have traded between a low of $33.74 and a high of $74.29 and are now at $41.52, which is 23% above that low price. The 200-day and 50-day moving averages have moved 0.31% higher and 1.42% lower over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of First Solar on September 27th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $38.21. Since that recommendation, shares of First Solar have risen 3.6%. We continue to monitor FSLR for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders First Solar

Ticker(s): FSLR