FIRST SOLAR: HEATING UP FOR NEW HIGHS
First Solar (FSLR) is one of our top technical ideas coming into this week. FSLR is in a technical uptrend with a series of higher highs, above the rising 20, 50, 100 and 200-day moving averages, indicating an uptrend on multiple time frames. FSLR recently corrected 20% off of 9-year highs, and held at the rising 50-sma. FSLR is a higher volatility mid cap, but is constructive here over $72.50 and on this week’s Top 25 Buy list.
Disclosure: I am currently long FSLR.
ALIBABA: SETTING UP FOR NEW HIGHS