FSLR getting bullish again after digesting earnings gap up

Panjang

First Solar, Inc. (NASDAQ:FSLR)

NASDAQ:FSLR First Solar, Inc.

FSLR getting bullish again after digesting earnings gap up. The bearish engulfing candle which was formed on Tuesday didn't have a follow through down which suggests buyers are definitely taking over. Close on Friday was confirmation of the same. Price closed just below 20dma which should immediately suggest that price can test 52.50 level before moving back up again, or it might consolidate btw 52.50 - 54.50 before any serious upside. RSI is rising plus MACD is curling up, bollinger bands are not overbought or oversold, all in all a very nice R/R here to go long in a day or two.

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