Coincidentally, the FSLR daily chart showed it's first real sign of weakness since going public in November last year. The MACD has turned harshly negative and the stock has closed below the 10 day moving average the last five days. A pullback near the 50 day moving average, currently at $83.53, is likely at some point. The last two pullbacks under the 10 day moving average approximated the 50 day.
In addition, FSLR has a market cap that approaches $8 billion with a current year projected P/E of 218, well above its peers. First Solar is a great company with a solid future ahead of it; the stock has just gotten way ahead of itself. The irrational excitement surrounding solar will shift to another clean tech "sector" soon. Fuel cells, microturbines, flywheels, wind turbines, hyrdrogen, butanol and others are calling. The $1B offering, the CEO selling shares and the technical breakdown should provide a great short opportunity right now.
FSLR 6-mo chart