$FSLR Entering Stage 2 Breakout?

FSLR I have been watching FSLR since Feb 27th earnings. It has been whipping around in a range but in doing so it has managed to keep putting in Higher Lows. The pure definition of an uptrend. They reported earnings again on May 1st and beat expectations. Their guidance was simply in line with future estimates. However, they have gotten several upgrades to Buy or Outperform in the last 2 days, most in the $220 to $250 range.

I have started a full-sized position today with a stop just below the lower band of the current consolidation. “If” the market holds up I expect that FSLR will outperform and could easily run 20% to 30%. Only time will tell.

For a true breakout to happen it will have to get above that flat line on the current flat base. However, I like early entries closer to the 20 EMA. If you decide this trade looks good to you, please make sure it fits your trading rules. My idea but your money.

The chart I am using is the All-In-One LevelUp tool available here on TV. Check it out.

Ideas, not investing / trading advice. Comments always welcome. Thanks for looking.

Comment:

FSLR The market is helping this one out this morning. I have raised my stop so that no matter what happens I make $$$

Comment:

FSLR Took 1/2 position off with 7% gain. I'll let the rest ride but no less than 5% gain stop in place.

Trade closed manually:

FSLR The market is fading here so I am taking my profits on this trade. I will look to get back in at some point. But I am taking profits as the market gives them to me.