Long Position on FSLR @ $70.50 on 1/23/2018 (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 "cup and handle" after the Adminstration imposed new taxes on Chinese solar imports. That should push shares higher.  We expect the strength in the shares to continue. 

52-Weeks Trading Range: $25.56 - $76.61

Entry Point: $70.50

Stop Loss: $67.45

Target Price: $78.10

Updates

2/23/2018 11:29:56 AM

FSLR closed at $61

Position closed on 2/23/2018 at price of $67.45 with a -4.33% loss in 31 days.

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