First Solar Stock Forecast

First Solar stock upgraded from Hold/Accumulate to Buy Candidate after Wednesday trading session.
(Updated on Apr 17, 2024)

FSLR Signals & Forecast

The First Solar stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $180.57. On a fall, the stock will find some support from the long-term average at approximately $163.62. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal. 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 Wednesday, April 10, 2024, and so far it has fallen -3.93%. Further fall is indicated until a new bottom pivot has been found. The stock had a Golden Star Signal on Thursday, March 21, 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 stock

On the downside, the stock finds support just below today's level from accumulated volume at $167.45 and $153.89. 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 finds support just below today's level at $167.45. If this is broken, then the next support from accumulated volume will be at $153.89 and $149.25.

This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $11.24 between high and low, or 6.52%. For the last week, the stock has had daily average volatility of 4.15%.

Our recommended stop-loss: $169.22 (-4.94%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 5 days ago.)

Trading Expectations (FSLR) For The Upcoming Trading Day Of Thursday 18th

For the upcoming trading day on Thursday, 18th we expect First Solar to open at $178.02, and during the day (based on 14 day Average True Range), to move between $171.05 and $184.97, which gives a possible trading interval of +/-$6.96 (+/-3.91%) up or down from last closing price. If First Solar takes out the full calculated possible swing range there will be an estimated 7.83% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $179.22 (0.68%) than the support at $167.45 (5.93%), 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 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 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: 1.649 Buy Candidate Upgraded

Predicted Opening Price for First Solar of Thursday, April 18, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.