First Solar $FSLR stock formed a flag breakout chart pattern on November 1, 2022, a few weeks after unusual dark pool trading occurred in the stock.
Dark Pool Trading In $FSLR Stock
We think the dark pool trading on October 7, 2022, and October 10, 2022, was buying because of how FSLR stock rose following the prints.
First Solar price target raised at Piper Sandler
On Nov 2022, Piper Sandler analyst Kashy Harrison raised the company’s price target on First Solar to $200 from $170 and maintained an overweight rating on the stock. Analysts are still optimistic after the third quarter results. Harrison told investors in the survey that strong bookings and pricing momentum gave them confidence in modeling higher prices and gross profit.
First Solar upgraded at Barclays
First Solar was upgraded to Equal Weight from Underweight by Christine Cho at Barclays on November 1, 2022. Demand for domestic products supports First Solar’s pricing power, while its near-sold status through 2026 raises concerns about possible ASP deterioration. Cho told investors in a research note.
First Solar stock jumps on $1.2 billion investment plan
First Solar $FSLR Stock Technical Analysis
First Solar $FSLR stock is in a technical strong uptrend. Long-term indicators suggest a continuation of the uptrend. Short-term indicators suggest that the stock is approaching overbought territory so profit taking or a trend reversal is possible. The stock has formed a bullish Flag breakout chart pattern.