The markets are still sharply lower on the day. European worries continue. Volume has vanished and all eyes are on now on the Federal Reserve over the next two days. They will be giving their FOMC Policy Statement on Wednesday. The markets are hoping for some new insight on current economic conditions and a new round of quantitative easing. While the markets are lower, these key stocks are making moves.
Apple Inc. (NASDAQ:AAPL) hit a new 52 week high of $411.50. This is a leading tech stock and a rare positive mover in an otherwise dismal market. The outlook for Apple remains rosy despite a possible recession looming.
First Solar, Inc. (NASDAQ:FSLR) hit a new 52 week low today at $80.59. This stock took out its $85.00 level 2008 low and could now trade to $75.00. First Solar is down over 50% since its 2011 high. Solar stocks in general have been under significant pressure as margins have been falling and European demand has collapsed.
Netflix, Inc. (NASDAQ:NFLX) fell sharply last week. After getting a small bounce early in the day, it has turned to the negative side again. The key support levels are $148.00, $127.00 and $95.00. The $148.00 level hit today at the lows.
Gareth Soloway
InTheMoneyStocks.com
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