First Solar (NasdaqNM: FSLR) NewsBite - FSLR Falls on Lower Oil Futures

Posted: Monday, December 01, 2008 12:01 PM EDT

First Solar (NasdaqNM: FSLR) opened at $118.55. So far today, the stock has hit a low of $113.14 and a high of $118.73. FSLR is now trading at $114.35, down $10.49 (-8.4%). The stock hit its 52-Week high of $317.00 in May and set its 52-Week low of $85.28 in November. Energy stocks, including alternative energy companies like FSLR are lower today as oil futures have taken a tumble to the $48 level. 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 a December out-of-the-money bear-call credit spread above the 160 range. [ABR-Seven Summits Strategic Investments NewsBite]

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