First Solar (FSLR) NewsBite - FSLR Downgraded By Goldman Sachs

Tuesday, October 07, 2008 3:05 PM EDT

First Solar (FSLR) was downgraded today by analysts at Goldman Sachs and the stock is now at $136.98, down $22.73 (-14.23%) on volume of 6,227,608 shares traded. The analyst downgraded FSLR to "Conviction Sell" from "Buy." Over the last 52 weeks the stock has ranged from a low of $124.96 to a high of $317.00. First Solar stock has been showing support around $124.67 and resistance in the $179.37 range. Technical indicators for the stock are bullish and S&P gives FSLR a positive 4 STARS (out of 5) buy ranking. If you are looking for a hedged play on FSLR the stock seems like it could be a candidate for an October out-of-the-money bear-call credit spread above the 160 range. [ABR-Seven Summits Strategic Investments NewsBite]

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