First Solar Inc.
Investors who are interested in more targeted exposure to companies in the solar sector may choose to analyze the top holdings of the TAN ETF. First Solar, Inc. (FSLR)
is the fund’s top holding and the recent price action, as shown on the chart, suggests that this is a company worth keeping an eye on. Like the case of the TAN ETF above, the bulls have been able to push the price toward the major resistance of the 200-day moving average. However, as you’ll notice in the case of FSLR, the price has been able to close above on above-average volume. The break above the 200-day moving average is a technical signal that suggests the trend is in the process of reversing. The final technical level of resistance that needs to be overcome before a true reversal is confirmed is the descending trendline shown on the chart. Those who aren’t convinced that the trend is reversing may be wise to remain on the sidelines until the price is able to close above the February high of $38.50. (For more, see: Top 4 Alternative Energy Stocks for 2017).
Read more: Solar Stocks Are Facing Major Resistance (TAN, FSLR) | Investopedia http://www.investopedia.com/news/solar-stocks-are-facing-major-resistance-tan-fslr/#ixzz4h3rh8bIp