First Solar Inc

FSLR remains in a Stage 4 decline underpinned by a clear pattern of lower highs and lower lows, with price trading below declining 9 and 21 EMAs. The active Bearish Exhaustion pattern indicates temporary seller fatigue, but medium-term structure remains bearish. The current bounce is retracing toward the EMAs without exhaustion, so selling should be deferred into rallies around the short EMAs. Key risks include an extended oversold bounce breaking above the EMAs and potential support at longer-term moving averages compressing the sell window.

• ↑Record Q1 2026 revenue of $1 billion (+24% YoY) from 31% volume growth
• ↑Contracted backlog of 47.9 GW valued at $14.4 billion ensures multi-year visibility
• ↓Potential Section 232 tariff changes could increase costs and squeeze margins