JinkoSolar Holding Company., Ltd Stock Forecast
Stronger technical forecast for JinkoSolar Holding Company., Ltd stock price after Friday trading.
(Updated on Apr 19, 2024)
The JinkoSolar Holding Company., Ltd stock price fell by -0.462% on the last day (Friday, 19th Apr 2024) from $21.66 to $21.56. It has now fallen 8 days in a row. During the last trading day the stock fluctuated 2.59% from a day low at $21.47 to a day high of $22.03. The price has fallen in 8 of the last 10 days and is down by -7.35% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -339 thousand shares and in total, 619 thousand shares were bought and sold for approximately $13.34 million.
The stock lies in the middle of a very 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 -15.92% during the next 3 months and, with a 90% probability hold a price between $16.42 and $22.59 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
JKS Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The JinkoSolar Holding Company., Ltd stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $22.45 and $24.92. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, April 09, 2024, and so far it has fallen -15.78%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for JinkoSolar Holding Company., Ltd stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
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 $0.555 between high and low, or 2.59%. For the last week, the stock has had daily average volatility of 5.09%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (JKS) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect JinkoSolar Holding Company., Ltd to open at $21.69, and during the day (based on 14 day Average True Range), to move between $20.32 and $22.80, which gives a possible trading interval of +/-$1.24 (+/-5.74%) up or down from last closing price. If JinkoSolar Holding Company., Ltd takes out the full calculated possible swing range there will be an estimated 11.47% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $22.51, some $0.95 (4.41%) from the current price of $21.56, our system finds the risk reward not very attractive.
Earnings coming up
JinkoSolar Holding Company., Ltd will release earnings BMO on Friday, April 26, 2024.The consensus among the analysts for the expected earnings (EPS) is -$0.440. We will update the financials statements for JinkoSolar Holding Company., Ltd, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 12.06% in the first trading day after earnings release.
Is JinkoSolar Holding Company., Ltd stock A Buy?
JinkoSolar Holding Company., Ltd holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock. We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Sell candidate.
Current score: -3.474 Sell Candidate Upgraded
Predicted Opening Price for JinkoSolar Holding Company., Ltd of Monday, April 22, 2024
Fair opening price April 22, 2024 | Current price |
---|---|
$21.69 ( 0.580%) | $21.56 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for JKS
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 22.24 | 3.15 % | |
R2 | 22.03 | 2.17 % | ||
R1 | 21.90 | 1.56 % | ||
Current price: | 21.56 | |||
Support | S1 | 21.47 | -0.404 % | |
S2 | 21.34 | -1.01 % | ||
S3 | 21.13 | -1.99 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 24.90 | 15.49 % | |
R2 | 23.79 | 10.34 % | ||
R1 | 22.51 | 4.41 % | ||
Current price | 21.56 | |||
Support | S1 | 0 | . | |
S2 | 0 | . | ||
S3 | 0 | . |
JKS Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Nov 22, 2023 | Nov 22, 2023 | Dec 06, 2023 | $1.50 | 4.70% |
FAQ
Click here for our free guide on how to buy JinkoSolar Holding Company., Ltd Stock.