Another interesting day in the markets with bad news signaling inflation. The gap down was eventually filled and the markets lifted nicely. Like I have been saying recently, volatility is here to stay at least for the short term. Tonight's chart is of solar panel maker FSLR. This stock has risen after great earnings reports the past couple of quarters. It's latest report made a nice gap up in the stock's chart and has consolidated nicely for the past week. There's a possible falling wedge that may indicate a breakout to the upside. I also noticed that there's a double bottom that would give this chart a much better chance of working out. Buy point would be now with some resistance at $236. Stop loss would be somewhere around $201 but in this volatile market remember to keep an eye on this and any other stocks you own.
No comments:
Post a Comment