JINKOSOLAR is bullish and has support at $19.85JINKOSOLAR is bullish, but its RSI is high and might be stretched and need to consolidate; however, the stock has support at $20 and $21.
It doesn't appear to have outstretched the MACD.
ZJS1 trade ideas
JKS - bright future for solar ahead?With ongoing worldwide trends towards clean energy, there is good potential for solar sector to shine in the years ahead.
After rather significant selloff recently some ideas are trying to put a bottom finally, and NYSE:JKS is one of them.
Good earnings released today and breakout through neckline of inverse H&S provide initial signs of reversal.
I entered position on breakout today, and plan to hold as one of core holdings for next year, with some short-term trading in and out.
INKOSOLAR HOLDING CO JKS Stock ChartJinkoSolar Holding Co., Ltd., together with its subsidiaries, engages in the design, development, production, and marketing of photovoltaic products in the People's Republic of China and internationally. The company offers solar modules, silicon wafers, solar cells, recovered silicon materials, and silicon ingots. It also provides solar system integration services; and develops commercial solar power projects. The company sells its products to distributors, project developers, and system integrators under the JinkoSolar brand, as well as on an original equipment manufacturer basis. JinkoSolar Holding Co., Ltd. was founded in 2006 and is based in Shangrao, the People's Republic of China.
Long JKS for breakoutThis 60m chart of JKS shows an ongoing impulsive move higher. Price broke out of a downward trend channel in late 2018, establishing a swing low around $7 that serves as the start of the wave count. From the bottom, we can count a series of Wave 1 / Wave 2 rallies preceding a strong Wave 3 push higher. There is a clear five-wave subdivision in Wave 3 which increases our conviction in the count. Price is now trading sideways in what is likely a Wave 4 triangle. Initiating a long position at market for a break higher in Wave 5 of larger degree Wave 3.
JKS: Clearly in a downtrend with a wave 2 ABC correction thatCould easily morph into an impulse. The ABC along has some huge upside. The wave B is a diagonal which typically can retrace most of it.
Positive divergence of possibly the best kindJinko Solar made a fresh low (by a hair) recently, practically double bottoming. Meanwhile the RSI is substantially higher relative to the first low. Important notion is that the RSI failed to press below 38.2, the inverse of the 61.8 (golden ratio). The divergence is therefore very strong. I am treating this as an indication the low might very well be in. If not, there should be strong support at around $9.70. So much negative expectation around this it's easy to see huge positive catalysts, starting from China trade deal to favourable WTO rulings to Chinese incentives for solar installation.
JKS: a relative calm before a stormHaving followed this stock for years, it's been characterized by a high beta, sharp uptrends and slow bleeds to reverse those. Now it needs to decide whether to start a leg up or continue down. I have labeled a bullish and a bearish Elliott count in the chart. RSI seems very constructive to me. Keep in mind this has grown to be the largest photovoltaic solar panel manufacturer - an industry that is in a mega uptrend in terms of adoption - and this is trading below book value.
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Invalid if sloped support is broken with conviction and followed by rejection to the upside! If it only pierces the line and comes right back in we assume bullishness.
I hope this was helpful to you! Follow for future TA and like if you want to!
Take care!
JKS only longThe buyers were formed. Trying to enter from the specified area.
Learn to determine the trend without indicators and trend lines
JKS Day Trade Retest Gap (Brad Reed Mar2,2015)JKS expected to open at 20.45 for a Retest Gap. Watch out for nearby pivot point. To learn to trade this strategy for free go to www.RealLifeTrading.com
