Hello Traders,
Jinko Solar (Ticker: JKS), a company producing Solar panels and more for the Solar industry, is moving sideways since it's high @ USD 90.20 in October 2020!
I have labeled this high as waves (A) of Intermediate degree, what stays in contrast to the labels before, which are impulsive. Please take an eye to the corrective labels since waves (A) high...
JinkoSolar has shuffled in a range for more than a year, but now the Chinese PV stock may be attempting a breakout.
Notice how JKS closed above its November high on Monday and Tuesday. The result? A new 52-week high at a time when the S&P 500 is still 14 percent below its high.
Second, the 50-day simple moving average (SMA) recently rose above the 200-day SMA....
once again we reached extreme resistance zone on JKS, will it finally break above or will history repeat itself?
watching for longs above 71.85, shorts below 62.61
Despite the recent selling JKS continues to show signs of strength, and looks like it wants to breakout of this triangle pattern soon. RSI bullish confluence
Whale trade option flow and price above 30wk MA has my bias to the upside.
An idea would be to follow the whale or go long calls with another OPEX - I'm in JUN 55 calls
Watching for rejection as it...
Breakout on 3D chart +++
Holding well above 50 EMA ++
Pivot trendline resistance acting as a support (for now) ++
Takeaway: Hallmarks of a leader...everything seems to looking up for this name. Sector should benefit the sympathy play due to high energy prices. Setting up for ATH.
Earnings watch 3/23
JKS
EVGO
SOL
PHUN
GIS
FSM
COOK
OLLI
TCOM
CTAS
Do your own due diligence, your risk is 100% your responsibility. This is for educational and entertainment purposes only. You win some or you learn some. Consider being charitable with some of your profit to help humankind. Good luck and happy trading friends...
*3x lucky 7s of trading*
7pt...
This company showed a lot of strength this time around last year. Since then it has been consolidating in what looks like to be a giant symmetrical triangle on the Weekly.
Yesterday, it broke the triangle to the upside and fell slightly back inside. Today it broke with significant momentum and is looking to retest on the 1hr chart. Setting a close stop loss...
Looking at this Head and Shoulders pattern from mid August to present, also note the double top in last July and November. Solar sector as a whole is getting beat up everywhere at the moment, and it feels like the writing is on the wall here for $JKS
Their earnings are coming up at the start of March, so I feel there is a danger we catch a little bounce here...
jks bouncing right above its load zone and almost a perfect bounce off its trendline support.
look for a flag breakout for confirmation, one thats breaks i would target 50.69-55.79-64 resistance zones for an exit.
goodluck! like and follow for more 💘
Jinkosolar just does not want to forget its previous ATH: the one in 2014 and 2010 especially. Hopefully though it will soon start its third way up to reach a 100d mark.
Not a financial advice.
Hello. Jinko Solar, the biggest Solar Company, is still only valued at roughly 3Billion USD.
I think Solar Energy in general is still undervalued and the Sector is just picking up and pretty bullish the coming Years as we need Green Energy desperately.
To be fair we had a pretty crazy Solar Run the last months but with a multi month/year outlook there´s still way...
JKS is finally breaking its top trendline resistance after being stuck in consolidation for a while, once the blue zone look for a rally to new all time highs.
over 64-68 resistance my price targets are 76.68-97.2-117.72
like and follow for more 💘
