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Sunday, February 16, 2014

First Solar - Time for acceleration higher?


First Solar

Since the mid-2012 low at 11.43 we have seen a series of waves one's and two's. I'm looking for a continuation higher towards at least the 50% corrective target at 164.27. For wave 3 I will be looking for a rally towards at least 95.56.
Shot term look for a break above 57.70 to confirm that red wave iii is developing for a move towards at least 80.87 and possibly even higher. During rd wave iii we should see a break above the base channel resistance for acceleration higher.

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