First Solar (FSLR) is looking attractive again.

For one, Morgan Stanley just said, “The risk of Republicans repealing the IRA is overblown. Some 90% of the investment dollars under the IRA have gone to GOP-controlled districts, which has created bipartisan support,” as noted by CNBC.

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Two, if Trump wins the election, “Tougher tariffs would enhance First Solar’s position in the U.S. market as the largest, vertically integrated solar panel manufacturer. Higher tariffs on Chinese solar module imports could result in higher average selling prices for First Solar and limit downside to its earnings, according to Goldman.”

Three, FSLR is technically oversold at $223.01. From here, we’d like to see it initially refill its bearish gap at around $230. From there, we’d like to see it rally back to $260.

Sincerely,

Ian Cooper