Update: FSLR (167.55) hits downside price target (158). Expect a downward re-test from these levels

First Solar plunged this morning hitting its downside price target of $158 dropping the MACD to new lows (see red circle). Now, on the 15 min chart, FSLR has bounced with the MACD rebounding ready to pullback to its slower signal line pulling the price back to re-test the $158 lows. (Note: The ADX indicator (see blue arrow) has rolled over from hitting highs of (44.46).