First Solar Inc

FSLR remains in a Stage 4 downtrend, trading below all major moving averages and stalling at the EMA/SMA cluster on a recent relief bounce. The medium-term structure shows lower highs and lower lows intact, and short-term timing is neutral without decisive exhaustion or follow-through. We recommend trimming into resistance at the 9/20/50-EMA region rather than initiating new positions now.

• ↑17.5 GW module shipments drove $5.2 B revenue (+24% YoY)
• ↑Q1 2026 net sales $1 B (+24% YoY); gross margin rose to 57%
• ↓8.1 GW de-bookings with BP affiliates threaten revenue guidance