JinkoSolar Holding Company., Ltd Stock Forecast
JinkoSolar Holding Company., Ltd stock upgraded to Buy Candidate.
(Updated on Mar 31, 2023)
The JinkoSolar Holding Company., Ltd stock price gained 0.85% on the last trading day (Friday, 31st Mar 2023), rising from $50.59 to $51.02. It has now gained 6 days in a row. It is not often that stocks manage to gain so many days in a row, and falls for a day or two should be expected. During the last trading day the stock fluctuated 2.80% from a day low at $50.30 to a day high of $51.71. The price has risen in 8 of the last 10 days and is up by 19.32% over the past 2 weeks. Volume fell on the last day by -144 thousand shares and in total, 491 thousand shares were bought and sold for approximately $25.07 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.
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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 -6.73% during the next 3 months and, with a 90% probability hold a price between $39.26 and $52.83 at the end of this 3-month period.
JKS Signals & Forecast
There are mixed signals in the stock today. The JinkoSolar Holding Company., Ltd 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 $51.18. On a fall, the stock will find some support from the short-term average at $49.17. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). A buy signal was issued from a pivot bottom point on Friday, March 17, 2023, and so far it has risen 19.32%. Further rise is indicated until a new top pivot has been found. 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.
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Support, Risk & Stop-loss for JinkoSolar Holding Company., Ltd stock
JinkoSolar Holding Company., Ltd finds support from accumulated volume at $49.12 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $1.41 between high and low, or 2.80%. For the last week, the stock has had daily average volatility of 2.68%.
Since the JinkoSolar Holding Company., Ltd has been rising for 6 days in a row, the risk over the next couple of days has increased. We don't expect a major reaction as the stock is in very good shape technically, and therefore hold a positive evaluation despite the very short term risk.
Our recommended stop-loss: $49.26 (-3.44%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 10 days ago.)
Trading Expectations (JKS) For The Upcoming Trading Day Of Monday 3rd
For the upcoming trading day on Monday, 3rd we expect JinkoSolar Holding Company., Ltd to open at $51.01, and during the day (based on 14 day Average True Range), to move between $48.45 and $53.59, which gives a possible trading interval of +/-$2.57 (+/-5.04%) 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 10.07% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $49.12 (3.72%) than the resistance at $53.38 (4.63%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is JinkoSolar Holding Company., Ltd stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.189 Open Broker AccountBuy Candidate Upgraded
Predicted Opening Price for JinkoSolar Holding Company., Ltd of Monday, April 3, 2023
The predicted opening price is based on yesterday's movements between high, low, and closing price.
|Fair opening price April 3, 2023||Current price|
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Trading levels for JKS
Fibonacci Support & Resistance Levels
Accumulated Volume Support & Resistance Levels
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About JinkoSolar Holding Company., Ltd
JinkoSolar Holding Co., Ltd., together with its subsidiaries, engages in the design, development, production, and marketing of photovoltaic products. 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, system integrators, an... JKS Profile
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