First Solar, Inc. : The upward tendency continues
Entry price | Target | Stop-loss | Potential |
---|
$71.87 |
$82.2 |
$70 |
+14.37% |
---|
First Solar continues its bullish trend in order to test the trand-line at USD 73.
The company shows strong fundamentals. Net earnings per share are steadily rising every year, expected to USD 4.22 in 2016. Moreover, the consensus revised upward EPS estimates for this year and that let see a great potential for the security on the stock market. Then, the consensus of analysts covering this share remains in "accumulation" with an average target price of USD 77.1.
Technically, the security shows a bullish configuration on all time scales. Prices are supported by increasing moving averages. In weekly data, the 20-week moving average helps the stock to keep its uptrend.
Thanks to these good indicators, it seems relevant to open a long trade above the trend-line at USD 73. The main target price is the USD 82.8 resistance.
A stop loss will be set under the USD 70 threshold because a breakdown of this level would damage the technical pattern.
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