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 SOL
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Renesola Ltd stock price down 4.93% on Thursday
(Updated on Mar 28, 2024)

Sell candidate since Mar 13, 2024 Loss -1.53% PDF

The Renesola Ltd stock price fell by -4.93% on the last day (Thursday, 28th Mar 2024) from $2.03 to $1.93. During the last trading day the stock fluctuated 6.75% from a day low at $1.93 to a day high of $2.06. The price has risen in 5 of the last 10 days and is up by 4.32% over the past 2 weeks. Volume has increased on the last day by 17 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 446 thousand shares were bought and sold for approximately $860.99 thousand.

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 -15.01% during the next 3 months and, with a 90% probability hold a price between $1.14 and $1.83 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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SOL Signals & Forecast

There are few to no technical positive signals at the moment. The Renesola 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 $1.93 and $2.02. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, March 01, 2024, and so far it has fallen -14.98%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Renesola Ltd gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".

Support, Risk & Stop-loss for Renesola Ltd stock

Renesola Ltd finds support from accumulated volume at $1.85 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 $0.130 between high and low, or 6.75%. For the last week, the stock has had daily average volatility of 5.56%.

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

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

For the upcoming trading day on Monday, 1st we expect Renesola Ltd to open at $1.97, and during the day (based on 14 day Average True Range), to move between $1.80 and $2.06, which gives a possible trading interval of +/-$0.129 (+/-6.66%) up or down from last closing price. If Renesola Ltd takes out the full calculated possible swing range there will be an estimated 13.32% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $1.85 (4.15%) than the resistance at $2.04 (5.70%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Renesola Ltd stock A Buy?

Renesola 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.

Current score: -3.466 Sell Candidate Unchanged

Predicted Opening Price for Renesola Ltd of Monday, April 1, 2024

Fair opening price April 1, 2024 Current price
$1.97 ( 2.07%) $1.93

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

Trading levels for SOL

Fibonacci Support & Resistance Levels

Level Price
Resistance R3 2.10 8.81 %
R2 2.05 6.24 %
R1 2.02 4.65 %
Current price: 1.93
Support S1 1.92 -0.501 %
S2 1.89 -2.09 %
S3 1.84 -4.66 %

Accumulated Volume Support & Resistance Levels

Level Price
Resistance R3 2.23 15.54 %
R2 2.09 8.29 %
R1 2.04 5.70 %
Current price 1.93
Support S1 1.85 -4.15%
S2 1.84 -4.66%
S3 1.71 -11.40%

FAQ

What is the symbol for Renesola Ltd Stock and on which exchange is it traded?
The symbol for Renesola Ltd is SOL and it is traded on the NYSE (New York Stock Exchange).

Should I buy or sell Renesola Ltd Stock?
Renesola 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.

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

What's the current price of Renesola Ltd Stock?
As of the end of day on the 2024-03-28, the price of an Renesola Ltd (SOL) share was $1.93.

What is the 52-week high and low for Renesola Ltd Stock?
The 52-week high for Renesola Ltd Stock is $4.54 and the 52-week low is $1.54.

What is the market capitalization of Renesola Ltd Stock?
As of the 2024-03-28, the market capitalization of Renesola Ltd is 115.125M.

When is the next earnings date for Renesola Ltd?
The upcoming earnings date for Renesola Ltd is Mar 28, 2024.
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About Renesola Ltd

Renesola Ltd ReneSola Ltd, through its subsidiaries, develops, builds, operates, and sells solar power projects in the United States, Canada, Europe, and internationally. It operates through three segments: Solar Power Project Development, EPC Services, and Electricity Generation Revenue. The company also develops community solar gardens; and sells project rights. In addition, its engineering, procurement, and construction business provides engineering design... SOL Profile

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