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First Solar Trading Higher on 1.3x Above-Average Volume (FSLR)

Published on Tue, 02/05/2013 - 14:16
By Peter Chu

Shares of First Solar are trading today in above average volume, with the share price rising 1.1% to $28.65. About 4.6 million shares have been traded today, as compared to the 30-day average volume of 3.6 million shares. Unusually high volume can signify a potential turning point or validate a breakout.

First Solar, Inc. designs and manufactures solar modules. The Company uses a thin film semiconductor technology to manufacture electricity-producing solar modules.

First Solar (NASDAQ:FSLR) is currently priced 16.0% above its average consensus analyst price target of $24.07. The stock should find resistance at its 50-day moving average (MA) of $30.09, as well as support at its 200-day MA of $21.70.

Over the past year, First Solar has traded in a range of $11.43 to $50.20 and is now at $28.65, 151% above that low. Over the past week, the 200-day moving average (MA) has gone up 0.5% while the 50-day MA has advanced 0.9%.

By Peter Chu
pchu@fnno.com