02Jun3:08 pmEST

Now it Can Do Whatever it Wants

First Solar is a short idea we have been noting inside Market Chess Subscription Services for a while now, with the stock "leaning down" against well-defined support and eventually filling its gap below. 

Now that we have seen the gap-fill, though, it is anyone's guess as to what happens next. Savvy shorts have likely covered part or all of their positions. 

But that need not mean the play is a quality long setup, since the stock could easily now "bear flag" out a few days of a choppy consolidation before heading lower yet. So consider this one a good example of a stock which can now do whatever it wants without much edge here. 

That said, a move back under $50 anytime soon should see even more buyers from higher prices hit the exits. 

Mind the Correlated Paths Stock Market Recap 06/02/15 ...


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