Buying and Selling in the Stock Market on September 16, 2021

Purchase of shares in First Solar (#FSLR). A company that manufactures solar panels.

The weekly chart shows strong growth. The price accelerated at the moment of a rebound from the balance indicator line a week earlier. The Marlin Oscillator is in a strong growing position. The price reached the Fibonacci level of 138.6%, slightly pulling back. A convenient moment is created to enter the market with targets at 112.80 and 123.32, also determined by the Fibonacci levels, 161.8% and 200.0%, respectively.

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The price found support at the 123.6% Fibonacci level on the daily chart yesterday. The Marlin Oscillator has slightly decreased, but it is in a growing trend zone. The price growth is likely to continue.

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Sale of shares of Qualcomm Incorporated (#QCOM). Microprocessor and wireless communications manufacturer.

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On the weekly chart, the price went under the balance indicator line, thereby shifting the market sentiment towards active sales of this stock. The Marlin Oscillator has moved into negative territory, supporting the downward trend. The bears' first target is the 123.50 level, the area of which acted as support and resistance in May and March 2021 and in August 2020. The second target is the level 104.70 - the point of intersection of the lower border of the price channel with the August 2020 low at 104.70.

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The price settled below both indicator lines on the daily chart, the Marlin Oscillator is declining in the negative zone - in the zone of the downward trend of the stock under study.

The material has been provided by InstaForex Company - www.instaforex.com

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