Stock Market Viewpoint

Stock Market Viewpoint
Reading the Tea Leaves...

Wednesday, December 30, 2015

FSLR Breakout Coming?

FSLR has spent the past couple of years down-trending but has been generous with long side swing trades.  Most recently it is testing the upper line of its red downhill channel.

click on image to enlarge

The three month up channel has been  very precise, consistent in its waves and has shown no sign of weakness all the way up to the upper line of the two-year red downhill channel where it's at now. With traders still eyeing solar plays when the market starts to get shaky, this well structured 2-month ascending channel might be the one that breaks it out of the two-year downhill channel to make a run back up to the green midterm channel (shown in the lower chart).

Trade well my friends


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