FSLR, QCOM, WM, SBUX & BA Setups - Midweek Update Part 2

First Solar (FSLR) surged 18% today as UBS said that FSLR is a solar power firm that is an Artificial Intelligence play. It is not a good idea to buy extended, however waiting patiently for a buyable pullback may be a possible trade for this stock. To do this methodically one must either wait for a pullback to a moving average or to a Fibonacci Retracement. The 5 EMA is at $217, so a pullback to this moving average is one possibility. A pullback to the 23% Fibonacci Retracement at $241, the 38% Fibonacci Retracement at $232 or the 50% Retracement at $226 are also possibilities. Buying at these levels may produce a decent trade. For this type of trade it’s important to pick your spot and not buy extended. Those who buy extended often regret it.

The cycle chart shows that FSLR is in an up-cycle until 6/2. There could be a down-cycle from 6/2 to 6/11, followed by another possible up-cycle from 6/11 to 6/19. Another possible up-cycle occurs around 6/27, which coincides with the renewal of the cycle bracket in the previous chart.