3 Big Stock Charts for Thursday: Alibaba Group Holding Ltd, First Solar, Inc. and Micron Technology, Inc.

It’s beginning to feel like the market is heading into a grind sideways as we’re seeing mixed numbers from the averages on what feels like a daily basis. For weeks now, the technology leaders have seen continued selling as traders migrate into industrial companies while locking-in some healthy gains before year-end.

Today’s three big stock charts analyze the technicals of Alibaba Group Holding Ltd (NYSE:BABA), First Solar, Inc. (NASDAQ:FSLR) and Micron Technology, Inc. (NASDAQ:MU) as these three companies are signaling the potential for a short-term rally that may give them a much-needed boost.

Alibaba Group Holding Ltd (BABA)

We hit BABA last week as the stock appeared ready to take a dive. Low and behold, the analysis was dead-on as it went straight from $180 to $165. Now, we’re seeing some signs of buying, but there are a few hurdles Alibaba stock needs to overcome before declaring the “all clear.”

First Solar, Inc. (FSLR)

FSLR is in rally mode today as traders are reacting positively to its recent Investor’s Day. First Solar’s reaction has it entering a volatility rally as it breaks out of a multi-month consolidation.

With the long-term outlook for First Solar gaining momentum, today’s move appears to be the first in a rally towards $75 or higher.

Micron Technology, Inc. (MU)

Semiconductor stocks have been hit by the recent migration from technology as the group has been one of the strongest performers for the year. To some degree, the selling has been the result of profit-takers moving money into more undervalued areas of the market after a strong run.

In the last week though, Micron has given the technical traders reason to take notice of a short-term bullish opportunity based on its chart.

As of this writing, Johnson Research Group did not hold a position in any of the aforementioned securities. 

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