Long Position on FSLR @ $61.20 on 12/6/2017 (Momentum)

First Solar, Inc. (FSLR) provides solar energy solutions in the United States and internationally.

It operates through two segments, Components and Systems. The Components segment designs, manufactures, and sells cadmium telluride solar modules that convert sunlight into electricity.

This segment offers its products to solar power systems integrators and operators.

The Systems segment provides turn-key photovoltaic solar power systems or solar solutions, such as project development; engineering, procurement, and construction; and operating and maintenance services to utilities, independent power producers, commercial and industrial companies, and other system owners. 

Shares have formed a bullish "flag" following several positive developments. Yesterday, First Solar said it now expects sales of $2.3 billion to $2.5 billion in 2018, and earnings of $1.25 to $1.75 a share. That will be down from this year -- the company expects revenue of $3 to $3.1 billion and earnings of $2.05 to $2.30 a share. On the news, shares jumped. We expect the strength in the shares to continue. 

52-Weeks Trading Range: $25.56 - $63.10

Entry Point: $61.20

Stop Loss: $58.00

Target Price: $67.32

Updates

12/8/2017 9:32:50 AM

FSLR closed at $69.

Position closed on 12/8/2017 at price of $69.00 with a 12.75% gain in 2 days.

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