Are you buying the dip in First Solar ($FSLR) (November 19, 2021)
FSLR TAN
I want to look at First Solar ( NASDAQ: FSLR ) today. Now, I am going to go to TAN ( NYSEARCA: TAN ). We have an active trade going on this solar ETF, I just like the way it’s trading. I really feel like it’s going to break out. I don’t know when but it just seems like it wants to go 100.00+. It is starting to get a little bit frisky and if it does that my bet is at least 110.00. That’s what I am thinking on that.
I look at all the different solar stocks and this is the one ( NASDAQ: FSLR ) that looks pretty attractive. And here’s why, because I can read the pattern. The 50-day moving average is the red line, right there. We get a nice breakout from a squeeze, a pullback to the red line, and then a nice rebound. Then a move up and then a pullback to the red line. A little rebound; hovers around for a while and then runs up again.
Want I am saying is, the stock doesn’t like to be below the 50-day moving average. Or put another way, there are buyers at the 50-day moving average, who are just sitting there waiting with open arms, open hands, open wallets, everything open, waiting to buy this stock. That’s what they are doing and it sure looks to me like that is what they just did today.
The trend is choppy, there is no question about it. But the trend is also pretty well defined. If I was a betting man, I’m not, but if I was I would look at this type of thing here and I would say, okay, I’m looking for this stock to kind of do that. I don’t know whether it’s going to tag this trendline or not but this is what I would look for it to do. And then I would look for it to pull back again. So we are in kind of the beginning part of this move. It’s the first move up, it’s up 6 percent from the day, right?
However, if you look at where this stock was the last time, it’s still got almost 10 percent to go before it even tests this high. And so I think you can even buy this stock right now. I would even say, this is probably aggressive but I would say it’s got the potential of about 14 percent. It’s in the right sector, Congress is spitting money at anything that is solar, or electric, or a lot of other things that I am not going to talk about. This is one of the industries that they are getting a lot of money. I think you are going to see this stock continue to run, I want you to be a part of it.
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