This article originally appeared Sept. 6, 2013, on Real Money. To read more content like this, + see inside Jim Cramer's multi-million dollar portfolio for FREE Click Here NOW.First Solar ( FSLR), headquartered in Tempe, Ariz., is a manufacturer of thin film photovoltaic modules, or solar panels. It also provides PV power plants and supporting services that include finance, construction, maintenance and panel recycling. The company is quite popular among traders and investors alike. It trends very well with smooth fluctuations in the larger trading channels, and it has a reputation for explosive moves with entry triggers that appear at relatively reasonable price points. Shares of First Solar have fallen in and out of favor quite often in recent months. After soaring in April to establish a third wave of buying on the weekly time frame, the shares began to pull back and correct over the summer months. Slowing momentum into May's highs helped fuel that corrective move. By the end of June, First Solar had given back about 50% of the gains it had made during the second-quarter rally. Shareholders' disappointment continued as the correction unfolded. The strong price support at the midsummer lows resulted in a rally into July, but the momentum of that upside was still more gradual as a whole than the prior drop. This eventually led to a second major pullback on the weekly time frame throughout August.
First Solar Developing a Bullish Move
Sep 07, 2013 | 02:20 PM EDT
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
More than 30 investing pros with skin in the game give you actionable insight and investment ideas.