FSLR Update

FSLR was a long (options call) position using  October $35 Calls and December $37 Calls  I closed the Oct. Tuesday of this week and the December Wednesday of this week.

Otherwise I like FSLR as a longer term long position that has nothing to do with the market.

 This is the move up which we caught with the Calls, I think I still have a P/L to post for yesterday's position, but both with nice profits.

I'd be interested in getting in again on a pullback, but the requirement is that the pullback shows strong accumulation, this is why I like movement even pullbacks in a long I like because it can confirm whether Wall St. is still buying and supporting the asset or not.

 This is a 60 min chart, there are even longer positives than this, but the point being FSLR moves from distribution and Stage 3/Stage 4 to a new Stage 1 accumulation.

To the right FSLR looks like its base is an inverse H&S bottom with the left shoulder and head formed and the left side of the right shoulder formed, we'd need a little more pullback and then a move to the upside.
The implied price target here is around $46, although I think that is very conservative.

 As for today because the range is so flat, we have positives up to 3 mins which is barely started really.

The 5 min is in line so the point of buying a pullback is getting the asset at lower prices, I think there's no heavy accumulation because the discount is not there yet, but I'm pretty sure it will be.