Decline in week 6, the pace slows
First Solar slips 1.7%: a new 30-week low that the weekly close fails to confirm
Our view last week
First Solar posts a second straight weekly loss, and the pace is quickening: down 9.3%, with buying down to 22% of volume in the weekly bar and money flow at its lowest of the month. Technical analysis of First Solar stock shows 3 lower highs on the daily chart, from the 221 area to the 202 area, while US tech stocks climb: the weakness is the stock's own. The short is up 13%; a falling ADX, though, says to keep a close eye on the price action.
This week's summary
First Solar printed a new 30-week low, in the 169 area, but the weekly close did not confirm the break: the week ends down 1.7%, in the upper half of its range. A week ago the decline was speeding up; now it slows. Technical analysis of First Solar stock still points down: MACD and RSI keep falling, and the daily price action shows 4 lower highs. Among US stocks on a sell signal, this short is now up 14.6%; money flow, still negative, is improving.
IQS Phase
72
in tension
Signal Strength
37
decline losing steam
Sizing
REDUCED
Ranking
#67 / 175
US stocks
Trade P&L %
+14.60%
from signal to date, no stop loss
First Solar (FSLR) weekly chart — EMA50 · MACD · VWAP
Weekly chart · EMA50 · MACD · VWAP · Source: TradingView
Rank position
ranks 67th among the 175 sell signals for US stocks in our ranking, with a signal strength of 37 out of 100.
Sector context
SectorGrowth Tech
Benchmark ETFXLK
Sector regimein strong phase
Performanceweekly +1.80% · monthly +8.83%
FSLR belongs to the growth tech sector (reference ETF XLK). The sector is classified in strong phase according to our weekly reading.
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