First Solar (FSLR) stock is currently trading at $54.71. The strength in the stock is underlined by its fair premium to both its key support levels. FSLR’s 50-day level recently passed its 200-day moving average, which is called the “golden cross.” Technical analysts consider it a bullish signal for the stock. In the short term, First Solar’s 50-day moving average, close to $49.71, could act as a support for the stock.
Relative strength index
First Solar stock is trading on the verge of the overbought zone with its RSI at 69. The RSI takes up values from 0 and 100. An RSI below 30 indicates that a stock is in the oversold zone while an RSI above 70 indicates that a stock is in the overbought zone. An RSI at either extremes suggests a reversal in a stock’s direction. SunPower’s (SPWR) RSI was 62 and Sun Run’s (RUN) RSI was 37 as of March 13.
The short interest in First Solar stock increased 2% on February 28. On February 14, there were 10.48 million shorted shares in First Solar while the total shorted shares increased to 10.64 million on February 28.
A rise in the stock’s short interest could indicate that more investors expect it to fall from the current price level. Short interest implies the number of a company’s shares that have been sold short and not squared off yet.
First Solar stock is currently trading 33% below its 52-week high of $81.7 in April last year, and it has rallied approximately 50% since its 52-week low of $36.5 in October.