First Solar – An IPO from the Heavens

Dec 15, 2007: 4:48 PM CST

How would you like it if an IPO you bought earlier this year increased almost 800% in the first year that you bought it?

Would you be happy or would you be wishing you bought more shares?

Such IPO results are extremely rare, especially in this troubling overall economic environment, and so it’s a great chance when we get to see one with such impressive results.

First Solar (FSLR) achieved this remarkable feat this year:

Now, let’s look at the daily chart:

You may be asking yourself “How could this happen?”

Great management, excellent sector location (favorable due to the push for alternate energy sources due to the high price of oil), great earnings, etc.

Oh, and a stunning technical (chart) picture.

Notice how the daily 20 period moving average has served perfectly as support, and as an identification of the strength of the underlying trend.

Bask in the glory that is First Solar Incorporated. It is the picture of near-technical perfection.

1 Comment

One Response to “First Solar – An IPO from the Heavens”

  1. ainkurn Says:

    I love to day trade this stock, although I can’t seem to convince myself to hold any overnight.