First Solar, Inc. rally continues

The rally continued yesterday in First Solar Inc. (NASDAQ: FSLR) and as the earnings approach, the stock seems to do it's usual Bullish run.

The general market has been going down for these last days but the solar stocks group seems to be holding up. Expect some news soon.

AmTech suggests buying shares of First Solar (FSLR) going into the company's 2Q08 earnings (July 31st, 2008). The logic? FSLR sandbags guidance, so the stock usually runs up in anticipation of a beat and raise:

Excluding the reporting period for Q407 where shares were down 34% into the print due to general macro concerns [yup, no macro concerns today...] and a difficult tech tape, shares of FSLR are up 24% on average into earnings reports [up 14% into earnings otherwise]....

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FSLR seems to be moving into May's highs, expect some resistance around $300-$310

Labels: Earnings, First Solar Inc, FSLR

posted by Ertai at 9:48 AM