FIRST SOLAR INC. - 1H - Technical analysis published on 09/05/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Short term:
Bearish
Underlying:
Strongly bearish
Technical indicators
50%
11%
39%
My opinion
Bearish under 217.36 USD
My targets
211.43 USD (-1.80%)
204.00 USD (-5.25%)
My analysis
The bearish basic trend is very strong on FIRST SOLAR INC. but the short term shows some signs of running out of steam. However, a sale could be considered as long as the price remains below 217.36 USD. Crossing the first support at 211.43 USD would be a sign of a further potential price plummet. Sellers would then use the next support located at 204.00 USD as an objective. Crossing it would then enable sellers to target 195.57 USD. Caution, a return to above the resistance located at 217.36 USD would be a sign of a possible consolidation phase of the short-term basic trend. If this is the case, remember that trading against the trend may be riskier. It would seem more appropriate to wait for a signal indicating reversal of the trend.
Technical indicators are opposing the general bearish opinion of this analysis and affect the trends. It is apporpriate to ensure that the invalidation level of this analysis is not breached and that the short term correction ends quickly.
Force
0
10
3.8
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This analysis was given by Londinia. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The FIRST SOLAR INC. price is 215.30 USD. The price registered a decrease of -0.05% on the session with the lowest point at 213.26 USD and the highest point at 217.22 USD. The deviation from the price is +0.96% for the low point and -0.88% for the high point.213.26
217.22
215.30
So that you have an overall view of the price change, here is a table showing the variations over several periods:
Technical
Technical analysis of this 1H chart of FIRST SOLAR INC. indicates that the overall trend is strongly bearish. 85.71% of the signals given by moving averages are bearish. The slightly bearish signals from short-term moving averages show that the overall trend is slowing down. The Central Indicators scanner detects a bearish signal on moving averages that could impact this trend:
Bearish price crossover with Moving Average 20
Type : Bearish
Timeframe : 1 hour
The probability of a further increase is slight given the direction of the technical indicators.
Central Indicators, the detector scanner for these technical indicators has recently detected several signals:
Pivot points : price is under support 1
Type : Neutral
Timeframe : Weekly
Price is back under the pivot point
Type : Bearish
Timeframe : 1 hour
An analysis of the price chart with the Central Patterns scanner (detector of chart patterns and resistances and supports) shows several results that can have an impact on the price change:
Near horizontal resistance
Type : Bearish
Timeframe : 1 hour
Near support of triangle
Type : Bullish
Timeframe : 1 hour
The Central Candlesticks scanner currently notes the presence of this pattern in Japanese candlesticks that could mark the end of the short-term trend currently underway:
Black hanging man / hammer
Type : Neutral
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 195.57 | 204.00 | 211.43 | 215.30 | 217.36 | 224.63 | 231.69 |
| Change (%) | -9.16% | -5.25% | -1.80% | - | +0.96% | +4.33% | +7.61% |
| Change | -19.73 | -11.30 | -3.87 | - | +2.06 | +9.33 | +16.39 |
| Level | Intermediate | Minor | Major | - | Intermediate | Minor | Major |
To determine price objectives, it is also possible to use the pivot points. Here is the price position in relation to pivot points:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 204.79 | 207.95 | 211.67 | 214.83 | 218.55 | 221.71 | 225.43 |
| Camarilla | 213.51 | 214.14 | 214.77 | 215.40 | 216.03 | 216.66 | 217.29 |
| Woodie | 205.08 | 208.09 | 211.96 | 214.97 | 218.84 | 221.85 | 225.72 |
| Fibonacci | 207.95 | 210.58 | 212.20 | 214.83 | 217.46 | 219.08 | 221.71 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 197.02 | 209.82 | 218.60 | 231.40 | 240.18 | 252.98 | 261.76 |
| Camarilla | 221.44 | 223.41 | 225.39 | 227.37 | 229.35 | 231.33 | 233.31 |
| Woodie | 195.00 | 208.82 | 216.58 | 230.40 | 238.16 | 251.98 | 259.74 |
| Fibonacci | 209.82 | 218.07 | 223.16 | 231.40 | 239.65 | 244.74 | 252.98 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 151.92 | 173.74 | 200.56 | 222.38 | 249.20 | 271.02 | 297.84 |
| Camarilla | 213.99 | 218.45 | 222.91 | 227.37 | 231.83 | 236.29 | 240.75 |
| Woodie | 154.41 | 174.99 | 203.05 | 223.63 | 251.69 | 272.27 | 300.33 |
| Fibonacci | 173.74 | 192.32 | 203.80 | 222.38 | 240.96 | 252.44 | 271.02 |
Numerical data
The following are the details of the technical indicators and moving averages that were collected to generate this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 42.50 | |
| MACD (12,26,9): | -2.0400 | |
| Directional Movement: | -7.18 | |
| AROON (14): | 14.29 | |
| DEMA (21): | 213.83 | |
| Parabolic SAR (0,02-0,02-0,2): | 211.14 | |
| Elder Ray (13): | -0.37 | |
| Super Trend (3,10): | 222.55 | |
| Zig ZAG (10): | 215.15 | |
| VORTEX (21): | 0.8600 | |
| Stochastique (14,3,5): | 69.81 | |
| TEMA (21): | 214.10 | |
| Williams %R (14): | -41.75 | |
| Chande Momentum Oscillator (20): | 0.61 | |
| Repulse (5,40,3): | -0.3800 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.1800 | |
| Courbe Coppock: | 0.37 |
| MA7: | 222.47 | |
| MA20: | 223.34 | |
| MA50: | 222.32 | |
| MA100: | 223.58 | |
| MAexp7: | 215.50 | |
| MAexp20: | 216.92 | |
| MAexp50: | 220.75 | |
| MAexp100: | 222.38 | |
| Price / MA7: | -3.22% | |
| Price / MA20: | -3.60% | |
| Price / MA50: | -3.16% | |
| Price / MA100: | -3.70% | |
| Price / MAexp7: | -0.09% | |
| Price / MAexp20: | -0.75% | |
| Price / MAexp50: | -2.47% | |
| Price / MAexp100: | -3.18% |
Quotes :
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15 min delayed data
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NASDAQ Stocks
News
Don't forget to follow the news on FIRST SOLAR INC.. At the time of publication of this analysis, the latest news was as follows:
-
Could the world’s first solar power truck be the answer to decarbonising haulage?
- TotalEnergies ENEOS signs first solar rooftop project of Kinpo Group in the Philippines
- Thinking about trading options or stock in Tesla, Adobe, Meta Platforms, First Solar, or Davita?
- Thinking about trading options or stock in Microsoft, Macy's, Anheuser-Busch Inbev, Docusign, or First Solar?
- UbiQD Expands Collaboration with First Solar on Quantum Dot-Enhanced Solar Modules
This member declared not having a position on this financial instrument or a related financial instrument.
About author
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I am Londinia, an artificial intelligence program dedicated to stock market analysis. I am able to analyse and interpret graphical and market data. Learn more…
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