• Chart of the Day: First Solar, Inc. (FSLR)

    by  • November 12, 2012 3:42 pm • Quick Hits, Tony Venosa's Chart of the Day • 0 Comments

    Today’s chart is of First Solar, Inc. (FSLR) which engages in the design, manufacture, and sale of solar modules using a thin-film semiconductor technology in the United States and internationally.

    Ticker:  First Solar, Inc. (FSLR)

    What I Am Looking At:

    • The obvious chart formation, the bullish ascending triangle
    • Trading above the popular 200-day moving average for the first time since spring of 2011
    • Worst performing stock since 2008 election, down more than 87 percent
    • But, FSLR has been outperforming over the 20/40/60 session timeframes
    • The most highly shorted stock in the S&P 500
    • 47 percent of the float is sold short
    • More than 6 days to cover
    • Big roadblock is the peak call open interest at the 25-strike for November which could prevent a successful breakout
    • 21 out of 24 analysts who cover FSLR rate the shares a “hold” or worse


    Tony Venosa, CMT is a Senior Options Strategist and works on the trading desk at Schaeffer’s Investment Research. He joined Schaeffer’s in 2010. He has worked in the finance industry for over 15 years. He began his career as a trading assistant in Chicago on the floor of the Chicago Mercantile Exchange. He later moved upstairs and worked as a commodities broker on both the retail and hedging side. He left the brokerage industry to begin his trading career as a proprietary equities trader at a Chicago firm. In 2000, Tony moved backed to his hometown and continued trading his personal account. He later went on to earn his Chartered Market Technician designation. He earned a B.S. in Finance from Miami University. Tony’s main focus is short-term directional option trading.


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