First Solar (FSLR) Downgrade Alert, Watch for 6% Technical Uptrend Reversal

First Solar (NASDAQ:FSLR) downgraded to Sell, $96 target, at Soleil. The stock closed Friday at $136.75 on volume of 3,447,700 shares, below average daily volume of 3,594,470.

First Solar should find initial resistance at its 50-day moving average of $142.69 and further resistance at its 200-day moving average of $146.52.

SmarTrend is bullish on shares of FSLR and our subscribers received an Uptrend alert on September 08, 2009 at $129.03, which has returned 6% to date.

Write to Chip Brian at cbrian@tradethetrend.com

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