Explanation to Bollinger's Bands

Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.

Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.

Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation

BandWidth defines the current width of the band.
%b defines the current position within the band.

BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)

Live Samples:

Bollinger Bottleneck Buy Pattern 1
Bollinger Bottleneck Buy Pattern 2
Bollinger Bottleneck Sell Pattern

Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.

Source: http://www.bollingerbands.com

RSI low/high Values: [ 25 - 75 ]
* StockInvest.us uses dynamically calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behavior.
AI Analysis of CSIQ
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Canadian Solar Inc. stock downgraded to Sell Candidate
(Updated on Mar 28, 2024)

Sell candidate since Mar 28, 2024 PDF

The Canadian Solar Inc. stock price gained 1.86% on the last trading day (Thursday, 28th Mar 2024), rising from $19.40 to $19.76. During the last trading day the stock fluctuated 3.78% from a day low at $19.05 to a day high of $19.77. The price has been going up and down for this period, and there has been a 1.96% gain for the last 2 weeks. Volume fell on the last day by -600 thousand shares and in total, 1 million shares were bought and sold for approximately $20.92 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.

The stock lies in the middle of a wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -19.96% during the next 3 months and, with a 90% probability hold a price between $14.25 and $17.04 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.

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CSIQ Signals & Forecast

A buy signal was issued from a pivot bottom point on Tuesday, March 26, 2024, and so far it has risen 9.90%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Canadian Solar Inc. stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $20.69. On a fall, the stock will find some support from the short-term average at $18.82. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal.

Support, Risk & Stop-loss for Canadian Solar Inc. stock

Canadian Solar Inc. finds support from accumulated volume at $19.44 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.720 between high and low, or 3.78%. For the last week, the stock has had daily average volatility of 4.52%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (CSIQ) For The Upcoming Trading Day Of Monday 1st

For the upcoming trading day on Monday, 1st we expect Canadian Solar Inc. to open at $19.53, and during the day (based on 14 day Average True Range), to move between $18.83 and $20.69, which gives a possible trading interval of +/-$0.93 (+/-4.71%) up or down from last closing price. If Canadian Solar Inc. takes out the full calculated possible swing range there will be an estimated 9.41% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $19.84 (0.40%) than the support at $19.44 (1.62%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.

Is Canadian Solar Inc. stock A Buy?

Canadian Solar Inc. holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.

Current score: -1.461 Sell Candidate Downgraded

Predicted Opening Price for Canadian Solar Inc. of Monday, April 1, 2024

Fair opening price April 1, 2024 Current price
$19.53 ( 1.18%) $19.76

The predicted opening price is based on yesterday's movements between high, low, and closing price.

Trading levels for CSIQ

Fibonacci Support & Resistance Levels

Level Price
Resistance R3 20.25 2.46 %
R2 19.97 1.07 %
R1 19.80 0.211 %
Current price: 19.76
Support S1 19.25 -2.57 %
S2 19.08 -3.43 %
S3 18.81 -4.82 %

Accumulated Volume Support & Resistance Levels

Level Price
Resistance R3 24.04 21.66 %
R2 22.07 11.69 %
R1 19.84 0.405 %
Current price 19.76
Support S1 19.44 -1.62%
S2 19.38 -1.92%
S3 18.18 -8.00%

FAQ

What is the symbol for Canadian Solar Inc. Stock and on which exchange is it traded?
The symbol for Canadian Solar Inc. is CSIQ and it is traded on the NASDAQ (NASDAQ Stock Exchange).

Should I buy or sell Canadian Solar Inc. Stock?
Canadian Solar Inc. holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.

How to buy Canadian Solar Inc. Stock?
Canadian Solar Inc. Stock can be purchased through just about any brokerage firm, including online brokerage services.
Click here for our free guide on how to buy Canadian Solar Inc. Stock.

What's the current price of Canadian Solar Inc. Stock?
As of the end of day on the 2024-03-28, the price of an Canadian Solar Inc. (CSIQ) share was $19.76.

What is the 52-week high and low for Canadian Solar Inc. Stock?
The 52-week high for Canadian Solar Inc. Stock is $45.29 and the 52-week low is $17.82.

What is the market capitalization of Canadian Solar Inc. Stock?
As of the 2024-03-28, the market capitalization of Canadian Solar Inc. is 1.277B.

When is the next earnings date for Canadian Solar Inc.?
The upcoming earnings date for Canadian Solar Inc. is May 16, 2024.
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About Canadian Solar Inc.

Canadian Solar. Canadian Solar Inc., together with its subsidiaries, designs, develops, manufactures, and sells solar ingots, wafers, cells, modules, and other solar power and battery storage products in Asia, the Americas, Europe, and internationally. The company operates through two segments, Canadian Solar Inc. (CSI) Solar and Global Energy. The CSI Solar segment offers standard solar modules and battery storage solutions, as well as solar system kits that ar... CSIQ Profile

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