Upticks

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Laggards

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Meaningful Movement Worth Discussing Among Current UPTICKS Holdings

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First Solar ($FSLR)  Oversold stabilization likely following deep correction.  Pullback nearing Support following more than a 40% decline over the last six months.   Despite the severe weakness in the entire solar energy space this year, FSLR has been arguably stronger than many of its peers in recent months.  Its selloff is now close to a 61.8% Fibonacci area of support as well as nearing prior peaks from November 2021 which likely causes some support to this decline.  Overall, FSLR likely depends on more concrete evidence of Yields rolling over before this can meaningfully begin to turn back higher.  At present, its bounce looks temporary and might consolidate again if rates start to turn back down.  While many of the Solar Energy have gotten quite oversold, it’s hard to say with conviction that this has definitively bottomed.  However, the risk/reward certainly looks much better after recent weakness coupled with a good likelihood that the FOMC is finished hiking rates.   Overall a big bounce looks likely in 2024, bu...

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