First Solar Trading Higher After Positive Article About Industry Outlook

The shares of First Solar

are trading higher on the session after Digitimes published an article today saying that the

According to the article, the industry had oversupply issues last year, which led to price drops, but the rapid decline in the cost PV systems boosted new demand. First Solar has lost approximately 70 percent of its market cap since January 2011. The shares are currently testing the -50-day moving average level and successful break above this key technical level could be a bullish signal. First Solar is currently trading at $42.52, a gain of $3.75 or 9.67%.