First Solar Continues Plunge

12:10pm (EST) I’ve been talking about First Solar (FSLR, $116.63, down $4.95) lately and I have been looking to do a strangle trade on the stock. On Sunday night, the stock was at $124 and finished Monday at $121.58, down $2.63. Today’s 5% drop has got me taking a closer look at the charts. First Solar is the nation’s largest solar panel maker and industry leader. Shares of First Solar were going for $150 at the beginning of the month. The company has its work cut out for them in the near-tem, the biggest being the delayed construction of one of its projects. The company is losing its top brass left and right…First Solar’s current CEO has announced he is stepping down. The chart for First Solar has been bearish for awhile and a break below $116 could clear the way to $108. Current subscribers, please go to the Members Area to get the trade. Rick@MomentumOptionsTrading.com]]>

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First Solar Continues Plunge

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