We get to hear from First Solar after the bell today and the stock is price for uncertainty. It has been priced for uncertainty since falling off its trend a bit in mid-June. Since then we’ve seen a long consolidation trade. I’m betting the earnings announcement breaks us out of this grind, but in which direction?
I would prefer higher, of course, so as to give the entire industry a fresh thrust of inertia. You won’t find a clearer picture of bracketed price action than the FSLR daily chart:
The next move should be a meaningful one. Full Disclosure: I’m long quite a bit of YGE.
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