FSLR Big Picture – MACD Basic Trade
- The major bullish trend line is holding up, showing that the bull trend is intact.
- During this bull swing of FLSR, there were strong gaps down. However, these gaps were closed after periods of accumulation without compromising the overall bullish movement.
- Finally, the recent up gaps proved to be good support for price.
FSLR Small Picture – MACD Basic Trade
(Learn: Gerald Appel’s MACD Basic Trade Setup)
- MACD crossed below its signal line and moved below the zero line. The bullish crossover of the MACD signals a long trading setup.
- As FSLR fell, it found support at an earlier up gap. Prices clearly bounced off the support.
- A second attempt to test the support was rejected strongly, leading to the bullish trend line break.
MACD Basic Trade Analysis
The larger picture shows FSLR in a healthy bull trend.
Upon closer examination, the support from the gap and the bullish trend line break bode well for this long MACD signal.