First Solar ( FSLR) was upgraded to a buy recommendation (overweight) by a sell-side firm Thursday. They gave a $145 price target for the solar company but reaching that level may take some time. Let's check out the charts and indicators. 
In the daily bar chart of FSLR, below, we can see that the shares have soared sharply higher in less than two months. Prices have nearly doubled in this short span of time. A rocket ship. FSLR is trading above the 50-day and the 200-day moving averages.
The daily trading volume has really expanded since early June and the On-Balance-Volume (OBV) line has turned very strong. The 12-day price momentum is way up but has not yet produced a bearish divergence.
In the weekly Japanese candlestick chart of FSLR, below, we can see how the shares have quickly soared up towards its 2021 peak in the $120 area. Prices are above the 40-week moving average line, which is now bottoming.
The weekly OBV line has turned upwards and is close to making a new high. The slow stochastic indicator is extremely overbought (extended).
In this daily Point and Figure chart of FSLR, below, we can see that prices reached and exceeded a price target in the $99 area.
In this weekly Point and Figure chart of FSLR, below, we can see a price target in the $231 area.
Bottom-line strategy: The shares have shot straight up and new purchases are risky in that they would be vulnerable to a downward correction at any time. I would be more comfortable in buying FSLR in the $100.
