Sun Shining on First Solar
First Solar case study.
‘Volatility breeds Volatility’
With the markets being a lot more volatile and with the VIX breaking well above its 200MA it lends its self to the opportunity to make more profits.
One of my favorite equities is First Solar.
We usually open and closed trades on this quite often to compound the interest and profits that we make each position to make more than just holding for the long term.
Here is a sneak peak on a few of the indicators that helps me decide entry and exit points. There’s a fair amount more to it but this may help the understanding out there of my techniques.
On March 21 First Solar broke the plane of a pivot point. However it did this being well above its moving day average while at the same time pushing the RSI and Stochtastics above levels that I was happy with as they indicated being in overbought territory.
I set a Trailing stop loss that then cashed out during a dip locking in 4.33%.
We will now reinvest this into an order that I will set at a much lower point as we are well above the 200MA but also above the 50MA.
I am still bullish long term on the fundamentals of First Solar.