JKS - It's a challenging uphill battle!
Breaking the recent downward trend will be a challenging task, despite our strong support. Currently, we are below both the 200-day moving average (turquoise line) and the 50-day moving average (gray line), and we also need to surpass the RSI 50 level to initiate a strengthening.
If the upward movement begins, we will face resistance at the 50-day moving average around 47, the upper Bollinger Band at 48.5, and the 200-day moving average and RSI 70 level at 50.50 (three red circle). Since the $50 price level is also a psychological barrier, I don't believe we can rise above it without a strong catalyst. Despite robust revenue growth, any potential issues with US authorities could force the stock to trade sideways within the range of 42-50.
If the upward movement begins, we will face resistance at the 50-day moving average around 47, the upper Bollinger Band at 48.5, and the 200-day moving average and RSI 70 level at 50.50 (three red circle). Since the $50 price level is also a psychological barrier, I don't believe we can rise above it without a strong catalyst. Despite robust revenue growth, any potential issues with US authorities could force the stock to trade sideways within the range of 42-50.
Comment:
The first hurdle is under attack, a 50-day moving average (gray line). :)