Someone is Bearish on First Solar

When at least one investor is Bearish on First Solar, and gets this much coverage on the media, then I would say to start doing the opposite.

With the recent market correction, maybe it's time to start getting Bullish. First Solar looks Bullish to me around the $130 - $145.

On TheStreet.com news regarding this:

Right out of the gate today, an investor's put spread purchase trumped normal daily options volume in First Solar (FSLR Quote) despite a positive outlook from analysts.
FSLR second-quarter earnings are due on July 29. Analysts expect a 36-cent drop in earnings, even after the solar semiconductor manufacturer beat analysts' estimates by 50 cents last quarter.
FSLR is approximately 30% off its recent high of $202.40 reached on May 20, and it looks like at least one investor could be betting that the stock could decline further.

FSLR Chart looks like this:

Labels: Bullish, First Solar Inc, FSLR, Solar Stocks

posted by Ertai at 2:17 PM