once again, FSLR is buzzing today on news that they are restructuring the company. as i mentioned the other day, although i stopped out of the trade, i’m keeping this one on my radar as it has the potential for a big upside move. i’m going to put this back on a trade set-up now with a trigger for a long entry over 21.75, at which point it will be an active trade. if that triggers, i think a stop under 20.75 (one point below) would be appropriate.
here’s an updated chart for anyone interested. the stock has continued to re-test that 60 min falling wedge and is taking nice volume on the move up today. aggressive traders could also take a shot here with a stop not far below entry. if it can take out that key resistance level, T1 (on this 60 min frame) is quite a bit higher and would make for a very nice trade. once again, be very careful when trying to catch a falling knife and make sure to set the appropriate stops.
