First Solar, Inc. Stock Forecast
Stronger technical forecast for First Solar, Inc. stock price after Thursday trading.
(Updated on May 16, 2024)
The First Solar, Inc. stock price gained 1.22% on the last trading day (Thursday, 16th May 2024), rising from 175.16€ to 177.30€. During the last trading day the stock fluctuated 2.25% from a day low at 176.04€ to a day high of 180.00€. The price has risen in 6 of the last 10 days and is up by 7.9% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 585 more shares were traded than the day before. In total, 1 thousand shares were bought and sold for approximately 232.80€ thousand.
The stock lies in the middle of a wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 33.09% during the next 3 months and, with a 90% probability hold a price between 219.13€ and 249.10€ at the end of this 3-month period.
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F3A.F Signals & Forecast
The First Solar, Inc. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at 176.78€ and 167.23€. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). First Solar, Inc. has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Tuesday, May 07, 2024, and so far it has fallen -2.44%. Further fall is indicated until a new bottom pivot has been found. The stock had a Golden Star Signal on Tuesday, March 26, 2024 in the long-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Golden Star 12 Months
The stock had a Golden Star Signal on Tuesday, March 26, 2024 in the long-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Support, Risk & Stop-loss for First Solar, Inc. stock
On the downside, the stock finds support just below today's level from accumulated volume at 164.32€ and 139.60€. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, First Solar, Inc. finds support just below today's level at 164.32€. If this is broken, then the next support from accumulated volume will be at 139.60€ and 136.20€.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved 3.96€ between high and low, or 2.25%. For the last week, the stock has had daily average volatility of 3.11%.
Our recommended stop-loss: 169.65€ (-4.32%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 7 days ago.)
Trading Expectations (F3A.F) For The Upcoming Trading Day Of Friday 17th
For the upcoming trading day on Friday, 17th we expect First Solar, Inc. to open at 177.78€, and during the day (based on 14 day Average True Range), to move between 171.04€ and 183.56€, which gives a possible trading interval of +/-6.26€ (+/-3.53%) up or down from last closing price. If First Solar, Inc. takes out the full calculated possible swing range there will be an estimated 7.06% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at 177.62€ (0.18%) than the support at 164.32€ (7.32%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is First Solar, Inc. stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for First Solar, Inc. stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 2.337 Buy Candidate Upgraded
Predicted Opening Price for First Solar, Inc. of Friday, May 17, 2024
| Fair opening price May 17, 2024 | Current price |
|---|---|
| 177.78€ ( 0.271%) | 177.30€ |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for F3A.F
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 181.74 | 2.50 % | |
| R2 | 180.23 | 1.65 % | ||
| R1 | 179.29 | 1.12 % | ||
| Current price: | 177.30 | |||
| Support | S1 | 176.27 | -0.582 % | |
| S2 | 175.33 | -1.11 % | ||
| S3 | 173.82 | -1.96 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 180.68 | 1.91 % | |
| R2 | 180.58 | 1.85 % | ||
| R1 | 177.62 | 0.180 % | ||
| Current price | 177.30 | |||
| Support | S1 | 164.32 | -7.32% | |
| S2 | 139.60 | -21.26% | ||
| S3 | 136.20 | -23.18% |
FAQ
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