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Trade idea: First Solar has bright future
Serge Berger, also known as the Steady Trader, is looking to buy First Solar. He says it is a trader's "favorite stock" and that it has been acting very well since September.
First Solar saw a big rally after it reported earnings on Friday. Its shares rallied 18% Friday after reporting a jump in profits and sales that were beyond expectations. Third-quarter earnings hit USD 1.94 a share, compared with USD 1 a year earlier.
Shares of First Solar have gained 92 percent so far this year.
As a result, Serge is looking to buy First Solar at USD 57, to place a stop at USD 51 and his target is USD 65.
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01:54 minutes
Tags: dollar, earnings, earnings earnings season, earnings per share, energy, energy sector, equities, equity, first solar, green energy, investing, investment, profit, profit taking, renewable energy, serge berge, shares, solar energy, solar panels, stock market, stocks, the steady trader, third quarter earnings, trader, trading, tradingfloor.com, usd, video