First Solar (FSLR) NewsBite - FSLR Downgraded By Wedbush Morgan

Posted: Thursday, October 29, 2009 1:44 PM EDT

First Solar (FSLR) was downgraded today by analysts at Wedbush Morgan and the stock is now at $126.68, down $24.90 (-16.43%) on volume of 9,324,936 shares traded. The brokerage reduced FSLR to Neutral from Outperform. Over the last 52 weeks the stock has ranged from a low of $85.28 to a high of $207.51. First Solar stock has been showing support around $146.01 and resistance in the $157.15 range. Technical indicators for the stock are neutral and S&P gives FSLR a neutral 3 STARS (out of 5) hold 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 150 range. [ABR-Seven Summits Strategic Investments NewsBite]

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