First Solar (FLSR) has been bearish for most of 2016. Overall, since 2013, price action has been in a sideways range as we can see in the weekly chart.FLSR Weekly Chart(click to enlarge)Consolidation mode; support pivot:- In the past few years of consolidation, price has ranged roughly between 35.50 and 74.85.- In August (after revealing a softer profit guidance and some gloom for 2017), price was bearish and fell towards this 35.50 area before stalling this past couple of weeks.- Also note that the RSI has tagged 30, and could be turning up. - Being that FLSR is in a long-term consolidation mode, we should anticipate some short to medium-term support here around 35.50.- A hold above 35.50 should indicate some baseline confidence in FLRS that the company will survive at the very least.- In the medium-term (to the end of the year and into 2017), a return towards the middle of the range around 55 could be a viable target, although we should note resistance around 50.00.Bearish break scenario:- A break below 35 however could open up a bearish push first to 30. - A break below 30 could indicate expectation of bankruptcy and could bring price back to 20, or even the 11.45 low from 2012.Here's Peter Garnry from Saxo Group talking about some changes in FLSR's business:Why I'm long First Solar: Garnry