JinkoSolar Holding Company., Ltd Stock Forecast
Green day on Tuesday for JinkoSolar Holding Company., Ltd
(Updated on Apr 23, 2024)
The JinkoSolar Holding Company., Ltd stock price gained 4.95% on the last trading day (Tuesday, 23rd Apr 2024), rising from $21.82 to $22.90. During the last trading day the stock fluctuated 7.39% from a day low at $21.80 to a day high of $23.41. The price has fallen in 8 of the last 10 days and is down by -10.55% for this period. Volume fell on the last day by -77 thousand shares and in total, 730 thousand shares were bought and sold for approximately $16.71 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 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 -15.78% during the next 3 months and, with a 90% probability hold a price between $16.36 and $22.53 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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JKS Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 6.22%. 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 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 $24.66. On a fall, the stock will find some support from the short-term average at $22.13. 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 JinkoSolar Holding Company., Ltd stock
JinkoSolar Holding Company., Ltd finds support from accumulated volume at $22.51 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 $1.61 between high and low, or 7.39%. For the last week, the stock has had daily average volatility of 5.66%.
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 Wednesday 24th
For the upcoming trading day on Wednesday, 24th we expect JinkoSolar Holding Company., Ltd to open at $22.70, and during the day (based on 14 day Average True Range), to move between $21.67 and $24.13, which gives a possible trading interval of +/-$1.23 (+/-5.36%) 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 10.71% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $22.51 (1.70%) than the resistance at $23.79 (3.89%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
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 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.
Current score: -3.591 Sell Candidate Unchanged
Predicted Opening Price for JinkoSolar Holding Company., Ltd of Wednesday, April 24, 2024
| Fair opening price April 24, 2024 | Current price |
|---|---|
| $22.70 ( 0.86%) | $22.90 |
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 | 24.31 | 6.17 % | |
| R2 | 23.70 | 3.49 % | ||
| R1 | 23.32 | 1.83 % | ||
| Current price: | 22.90 | |||
| Support | S1 | 22.09 | -3.54 % | |
| S2 | 21.71 | -5.20 % | ||
| S3 | 21.09 | -7.89 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 27.85 | 21.62 % | |
| R2 | 24.90 | 8.73 % | ||
| R1 | 23.79 | 3.89 % | ||
| Current price | 22.90 | |||
| Support | S1 | 22.51 | -1.70% | |
| S2 | 22.43 | -2.05% | ||
| S3 | 21.69 | -5.28% |
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
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