First Solar (FSLR) NewsBite - FSLR Slips as Oil Prices Decline

Posted on Monday, July 07, 2008 3:40 PM

First Solar Inc. (FSLR) opened at 255.87. So far today, the stock has hit a low of 246.51 and a high of 260.00. FSLR is now trading at 251.07, down 2.58 (-1.01%). The stock hit its 52 week high of 317.00 in May and set its 52 week low of 74.77 in August. FSLR has been climbing for the past year. First Solar shares have been slipping with other solar operators dragged down by lower crude oil futures that declined near $140 a barrel. Technical indicators for the stock are bearish and steady while S&P gives FSLR a neutral 3 STARS (out of 5) hold rating. If you’re looking for a hedged play on this stock, consider a July bear-call credit spread above the $300 range. FSLR stock could rise up to 19.5% before expiration and this position would still be profitable. [RHF - Seven Summits Strategic Investments NewsBite]