First Solar Stock Forecast

First Solar stock downgraded from Buy Candidate to Hold/Accumulate after Friday trading session.
(Updated on Apr 26, 2024)

FSLR Signals & Forecast

There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Wednesday, April 10, 2024, and so far it has fallen -3.54%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). The First Solar 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 $176.71 and $167.65. A breakdown below any of these levels will issue sell signals. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. 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 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 $5.22 between high and low, or 2.97%. For the last week, the stock has had daily average volatility of 4.21%.

Our recommended stop-loss: $171.43 (-4.09%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 12 days ago.)

Trading Expectations (FSLR) For The Upcoming Trading Day Of Monday 29th

For the upcoming trading day on Monday, 29th we expect First Solar to open at $178.32, and during the day (based on 14 day Average True Range), to move between $171.75 and $185.71, which gives a possible trading interval of +/-$6.98 (+/-3.90%) up or down from last closing price. If First Solar takes out the full calculated possible swing range there will be an estimated 7.81% 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 (0.27%) than the support at $167.45 (6.31%), 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?

First Solar holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.

Current score: 0.574 Hold/Accumulate Downgraded

Predicted Opening Price for First Solar of Monday, April 29, 2024

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