In early August, we said, “Oversold shares of First Solar (FSLR) look interesting again. After pulling back from about $300 to $216, the solar stock appears to have caught strong support at its 100-day moving average. Plus, it’s starting to slowly pivot higher from over-extensions on RSI, MACD and Williams’ %R. Helping, the company just beat second-quarter earnings, and more than doubled its bottom line year over year.”

At the time, FSLR traded at $216. Today, it’s up to $239.84.

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All on news that Kamala Harris won the debate with Donald Trump on Tuesday night. The Vice President added, “My position is that we have got to invest in diverse sources of energy so we reduce our reliance on foreign oil,” as quoted by Benzinga.com.

From $239.84, we’d like to see FSLR retest $270 a share.

Sincerely,

Ian Cooper