Wyckoff Distribution Schematic
Wyckoff Accumulation Schematic
Bar Chart (5 year)
Point and Figure Chart
First Solar has been under larger scale distribution for a long time. You can review the 5-yr bar chart for confirmation but current price action is all I need. Current weekly closing prices are below support. This is a “sign of weakness.” A review of seasonality shows that Octobers is bullish. It is reasonable for prices to rally and test $45. A failure of this level would confirm prior support as resistance and suggest prices will continue lower.
The current point and figure campaign target is $27.