First Solar (FSLR) may be in a promising industry with a lot of "potential" but the charts of FSLR are still pointed down and suggest that the bears remain in control. Let's visit with the latest charts and indicators to see if there any green shoots of a turnaround on the charts.
In this daily bar chart of FSLR, below, we can see the downtrend over the past 12 months. The 50-day simple moving average line has had a negative or bearish slope for most of the past year. FSLR did rally above the 50-day average line a few times over the past year but these rallies were not long sustained. Currently FSLR is below the declining 50-day average and the declining 200-day moving average line. A rally in late February stopped short of the underside of the average line.
The daily On-Balance-Volume (OBV) line has been pointed down the past 12 months and tells us that sellers have dominated the price action. The 12-day momentum study in the bottom panel of the chart does not show a bullish divergence between the price action and the indicator, so we have not seen the decline slow and foreshadow a rally.