$FSLR Chart Review

Seasonality Chart

FSLR SEASONALITY.png

 

Wyckoff Distribution Schematic

distribution

 

Wyckoff Accumulation Schematic

Accumulation

 

Bar Chart (5 year)

FSLR BAR CHART

 

Point and Figure Chart

FSLR PnF.png

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.

Good Luck!

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