Solar

Resistance

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>FSLR stock price fell 11.84% in October 2023.&nbsp;</a> </li> 
 <li> <span>2</span> <a>First Solar stock price eroded previous gains and hit a 52-week low.</a> </li> 
 <li> <span>3</span> <a>The quarterly earnings of First Solar Inc. were released on October 31, 2023.</a> </li> 
</ul> 
<p>FSLR stock price fell 11.84% in the last month and hit a 52-week low at $132.19. It erodes a big portion of its market capitalization and is unable to generate positive returns on a YTD basis.&nbsp;</p> 
<p>First Solar stock price is in a downtrend and the 50-day EMA negative intersected the 200-day EMA denoting a bearish crossover. However, the price looks oversold so a short-term pullback in FSLR shares may arrive anytime.&nbsp;</p> 
<p>First Solar Inc. released the September quarter earnings on October 31, 2023. It reported an EPS of 2.50 and revenue of $801.09 Million. However, the predicted EPS and revenue are 2.045 and $904.11 Million, respectively.&nbsp;</p> 
<p>It is visible that First Solar beat the EPS estimates by 22.44% but missed the revenue by 11.39%.&nbsp;</p> 
<p>The after-hours session indicates that FSLR stock price is up by 4.84%. It shows that investors are satisfied with earnings and the share price is likely to open a gap-up near $149.00.&nbsp;</p> 
<p>In the previous session, FSLR stock price showed a minor bounce and defended the $140 level. It indicates that the buyers are getting active and trying to reverse the trend.&nbsp;</p> 
<h2 class="wp-block-heading" id="strong-will-fslr-stock-price-halt-downfall-near-140-strong"><strong>Will FSLR Stock Price Halt Downfall Near $140?</strong></h2> 
<div class="wp-block-image"> 
 <figure class="aligncenter">
  <img decoding="async" src="https://lh7-us.googleusercontent.com/JOHWyWIMTOQ-VJ18NSWowfWoiFpI8PFwSABlGSRDNJEADow4fdJLy5ZyMcI-LoR4ysSRi0rQe6YBJQlfv7l6FFy5ZRFb44LxpXUUDnn-NzX6BRraaw63ttjqffY8IwYbrP76ZVfumxmcCL3Ksml8D9A" alt="FSLR Stock: First Solar Beats EPS But Missed Revenue in Earnings">
  <figcaption class="wp-element-caption">
   Source: <a href="https://www.tradingview.com/x/3DEW1ajj/">NASDAQ: FSLR </a>daily chart by Tradingview
  </figcaption>
 </figure>
</div> 
<p>FSLR stock price might show a pullback rally in the upcoming weeks. The earnings may be one of the reasons why the short sellers may exit. However, the question is whether the pullback can sustain the higher levels or not.&nbsp;</p> 
<p>In the coming weeks, if <a href="https://www.thecoinrepublic.com/2023/09/15/first-solar-stock-price-forecast-will-fslr-price-descend-more/">First Solar</a> stock price succeeds in breaking out of the $159.00 hurdle, the short-term trend might reverse upward and the probability of sustaining the higher levels will increase.&nbsp;</p> 
<p>On the other hand, if the <a href="https://www.thecoinrepublic.com/2023/09/15/first-solar-stock-price-forecast-will-fslr-price-descend-more/">FSLR share price</a> faces rejection from $159.00, then the stock is likely to continue the consolidation in the range between $132.19 to $159.00.</p> 
<h3 class="wp-block-heading" id="strong-is-first-solar-stock-price-getting-ready-for-reversal-strong"><strong>Is First Solar Stock Price Getting Ready For Reversal?</strong></h3>  
<div class="tradingview-widget-container">
  &nbsp;&nbsp;
 <div id="tradingview_06c88"></div> &nbsp;&nbsp;
 <div class="tradingview-widget-copyright">
  <a href="https://www.tradingview.com/" rel="noopener nofollow" target="_blank"><span class="blue-text">Track all markets on TradingView</span></a>
 </div> &nbsp;&nbsp;
 <script type="text/javascript" src="https://s3.tradingview.com/tv.js"></script> &nbsp;&nbsp;
 <script type="text/javascript">

  new TradingView.widget(

  {

  "width": "950",

  "height": "500",

  "symbol": "NASDAQ:FSLR",

  "interval": "D",

  "timezone": "Etc/UTC",

  "theme": "light",

  "style": "1",

  "locale": "en",

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  "studies": [

    "STD;RSI",

    "STD;Supertrend"

  ],

  "container_id": "tradingview_06c88"

}

  );

  </script> 
</div>  
<p>First Solar stock price formed a bullish hammer candle on the weekly time frame chart. It indicates that the downfall in stock is taking a halt and the price is getting ready for the reversal.&nbsp;</p> 
<p>However, the confirmation of the reversal will come when buyers break the $159.00 hurdle. The RSI at 38 displayed a sharp U-turn from the oversold territory indicating mild bullishness. If the price continues to recover, then the RSI may reach neutral territory soon.</p> 
<h4 class="wp-block-heading"><strong>Conclusion</strong></h4> 
<p>FSLR stock price fell 11.84% in the last month and eroded a big portion of its market capitalization. However, the stock price is taking support near $140.00 and buyers are trying to halt the downfall.&nbsp;</p> 
<p>The analysis suggests First Solar stock price might show a pullback rally to $159.00. However, the confirmation of trend reversal will come when the price sustains higher levels.&nbsp;</p> 
<h5 class="wp-block-heading"><strong>Technical Levels</strong></h5> 
<ul> 
 <li>Resistance levels: $159.71 and $172.31</li> 
 <li>Support levels: $132.19 and $120.00</li> 
</ul> 
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5> 
<p>The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.</p>

FSLR Stock: First Solar Beats EPS But Missed Revenue in Earnings

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