First Solar Key Levels

First Solar, Inc. (NASDAQ:FSLR) is trading at $30.38, -1.92 (-5.94%). The stock continues to get hit after reporting quarterly results that did not meet expectations. While this news has sent the stock price lower, many traders are looking for the bottom. The key is to look at the chart and discover the next major support levels. The first obvious level is the 52 week low. The stock price is coming coming into that level at $29.87. This will be a double bottom and a support level.

While the stock price will find some support there, it is likely to go even lower after a small bounce. I know, the longs do not want to hear that but the charts speak the truth. The major support where the stock will be a longer term buy is at $24.75.

About Gareth Soloway 168 Articles

Affiliation: InTheMoneyStocks.com

Gareth Soloway has been an avid swing and day trader since his days at Binghamton University where he studied Economics. After college, Gareth quickly excelled as a financial advisor, helping clients get their financial houses in order. While helping others gain financial independence, he continued to study the day trading and swing trading world, developing a unique market philosophy and proprietary methods. Following his work in the financial sector, Gareth went on to trade alongside professional traders. Unable to tolerate the hype of Wall Street any longer and having an amazing ability to profit using his developed techniques, Gareth Soloway decided to partner with his friend and colleague, Nicholas Santiago to form InTheMoneyStocks.com. Chief Market Strategist Gareth Soloway serves as the president and CFO of InTheMoneyStocks.Com.

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