This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Big Swing Trade Ideas for Wednesday, June 4: First Solar, More

NEW YORK (TheStreet) -- Good day traders!

Today's top picks are First Solar (FSLR)RealPage (RP - Get Report) and WisdomTree Investments (WETF - Get Report).

1. First, let's look at First Solar, which provides solar energy solutions worldwide. The company operates through two segments, components and systems.

First Solar trade up 0.37% on Tuesday, closing at $62.93

  • Tuesday's range: $61.70 - $63.45
  • 52 week range: $35.59 - $74.84
  • Tuesday's volume: 2,192,036
  • 3-month average volume: 4,482,160

First Solar has been in a downtrend since reaching its 52-week high of $74.84, trading down 15%. Then, it appears to have found its bottom at $59.88. Yesterday, shares closed above the t-line and the 20-day simple moving average, and there was a t-line/20 cross.

Yesterday's chart formed a doji candle, which is a sign of indecision. (A doji chart has a stock price that opens and closes in almost the same spot, but it may be wide-ranging in price over the course of the day.). Plus, when there is a doji, I like to watch for a gap up.

Look for a gap up today. When there is a gap up after a doji, this is a huge bullish signal, and the trend likely follows the gap after a doji. Also, this chart is forming a cup and handle formation, which is also a bullish candlestick signal that has big upside potential. All signs for a buy.

I'd look for an entry above the t-line and the 20-day simple moving average, say above $62.00. I would set a stop at about $60.80. I would target the 52-week high, which is 12% to the upside. The power and energy sectors have been working, so this trade will likely work in our favor. Stay long until you see a confirmed sell signal, or a confirmed close below the t-line.

Next up: RealPage.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
FLSR $0.06 0.00%
RP $16.96 0.00%
WETF $15.65 0.00%
AAPL $110.38 0.00%
FB $92.07 0.00%


Chart of I:DJI
DOW 16,472.37 +200.36 1.23%
S&P 500 1,951.36 +27.54 1.43%
NASDAQ 4,707.7750 +80.6910 1.74%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs