Here’s your trade on First Solar ($FSLR) – September 28, 2022

by DAN FSLR 
Just a quick video today on First Solar ( NASDAQ: FSLR ). This has been a stellar stock for so long, it is certainly something that I have not been able to buy simply because it has been running so fast.

In my mind, whenever I chase a stock that is going so fast, frankly, it’s like chasing a race car, and then I end up chasing it right into the pits and slam into the back of it. And so it is just not something that I do. But I have been watching this stock along with the rest of the solar stocks. After all, we are all solar crazy, right?

We see this stock has pulled back for something like 9-days, actually more than that, almost 3 weeks or 13 trading days. And then we finally got a move higher now above yesterday’s intraday high. In fact, actually the high was the highest in several days. The volume, though, was even less than average, so it’s not like this huge big move today.

However, what I did was, I picked it up at exactly $135.00. My stop is down here at 126.90, so it’s under 6 percent risk. And so this is a trade that works for me, maybe it will work for you. I will just say this, on this kind of potential breakout you really need to see the stock continue to run. If it starts to pull back then your timing, my timing is wrong, and I’d probably wind up selling the stock and possibly before it even hits the stop.

With this kind of move, it really needs to run. But right now, the trend is still really lower highs and lower lows. I just like this closing location value, it’s a really, really nice close.

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