Lots of activity with [[FSLR]], $293.95. Such is life with a delightful stock.
Within the past two months, the chart pattern has shown a test of the bullish support line and three double top breakouts, the most recent of which has completed a “shakeout” pattern.
In general, you can see a shakeout when a stock forms two double tops, subsequently breaks a double bottom, and then quickly reverses back up. The double bottom break gets rid of the weak holders. Finally, the shakeout is completed when three previous tops are broken.
The stock is now free to move over $300.
Fundamentally, the big story, and the next leg up for this stock is the utility play. It’s estimated that 40% of greenhouse gas emissions are due to demand for electricity.
In addition, because of its proprietary technology, there appears to be sufficient barriers to entry.
Disclaimer: This stock is XXX-rated. Adults only.
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