Inverted head and shoulders on $JKSLooks like it could be forming an inverted head and shoulders. If it breaks downtrend monday I could see a huge step up.
JKS/N trade ideas
JKS (JINKOSOLAR HOLDING CO LTD) - POTENTIAL BUY ENTRY ANALYSIS 🔎
- JKS is consolidating in a major symmetrical triangle pattern.
- Price is retesting the major symmetrical triangle's inclined support.
- Price action is printing a minor ascending triangle pattern at the retest area.
- An ascending triangle pattern is a bullish build up pattern.
- There's a breakout potential (bounce off the major symmetrical triangle's inclined support).
BUY ENTRY ⬆️
- Breakout above the minor ascending triangle's horizontal resistance.
TARGET 🎯
- Major symmetrical triangle's inclined resistance.
SETUP INVALIDATION ❌
- Breakdown below the minor ascending triangle's inclined support.
Swing on JunksolarJunksolar has been a good swing candidate for months travelling in the box channel while drawing a symmetrical triangle.
And I think the time is now to break out of the box and fly higher! I think the risk is low on this trade as it is still at the bottom of the symmetrical triangle with 100 ma acting as a strong support.
Although I am trading this as a swing, I think this is still a good long-term investment as well with rising concerns over global warming and environment-friendly policies under Biden administration.
Target: $75
Stop: $60
JKS Wave 3JKS has had choppy price action recently, but the re-test of the dynamic trendline makes it a solid candidate for long positions (Good R:R). Wave 2 appears to have formed a expanded flat with a larger retracement in the 0.618-0.768 zone. Ideally, JKS would hold the $61 level before a wave 3 run-up. Wave count becomes invalidated under $57.50
JKS 75C 3/19 ☎️ JKS TA
1. Bull Flag on Daily, Apex this week.
2. Past Month indicates Reverse Head & Shoulders
3. 40% on RSI shows historical Reversals - Mid RSI band acts as Turning point
4. Fibonacci Support Buy Zone is 59-62
5. "JinkoSolar Begins Construction On 20 Gigawatt Solar Cell Factory" - 1 week ago
6. Biden Administration Pro-Solar
7. Squeeze Initiating
8. Neaing 100 SMA for first touch of Support
9. ER run up for Feb, Estimated EPS is lower than average - higher likelihood of beating earnings
10. Overall Market Sentiment Bullish and Undervalued
