JJJINKOSOLAR HOLDING CO-ADR
11.497CHFR
−3.501−23.34%
At close at Apr 10, 15:27 GMT
CHF
No trades
ZJS1 trade ideas
JKS - too good to be trueAfter recommending NYSE:JKS for long term purchase last November, idea went trully ballistic in recent months making around +500% since the time of recommendation.
Despite such price increase, company still does not seem particularly expensive (it was a bargain in low teens) and high purchasing volume also hints that trend higher may continue for years to come.
However, short term wise, JKS is clearly very overbought, and decent correction may ensue shortly. looking for spots to take some profits off the table should be priority strategy in the upcoming weeks.
JinkoSolar (NYSE:JKS) Bull Case ScenarioJinkoSolar (NYSE:JKS) Bull Case Scenario.
Your comments are welcome.
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Legal disclaimer: I am not a financial advisor. The advice here given is not a financial advice even though my excitement might make it look like such. This account shouldn't be followed by anyone expecting something from me. You trade at your own risk and nobody can guarantee you results. Even if someone could, I don't.
JKS FORMING SECOND LEG OF DOUBLE BOTTOMNYSE:JKS
JKS is forming second leg of double bottom pattern. This could play out in the coming weeks. Analysts expect price to come down to between 41 and 55. While this may be overexaggerated. Agree with estimates JKS needs some room to consolidate but still could turn out to be lucrative with the new administration that could bolster the alternative energies space.
Too much too Fast?Possibly Parabolic..I do not like using that term
If it is, then most arc patterns fall 50 to 62% in correction mode
It is past the 62% fall so next would be 50% but could recover anytime. Just the norm is all
NKLA fell close to 100%
89% fall would be 27.06 and 100% fall would be the bottom which is 18.94
Just an observation
I'm Still ShortGood Afternoon,
This is just an update on the JKS situation. I shorted some more this morning, bringing my average price up a LOT. I think a more 'correct' short opportunity will come once this trendline breaks, but generally I'm still bearish and might add more short in the event of a waterfall. This company simply isn't worth it's current price.
Potential Top on the daily for a swift pullbackJSK has run over 350% without forming a daily higher low since Sept. 8th (~1.5 months and 31 trading days). This move has gone absolutely parabolic and hasn't formed support during that time. Currently we have the highest sell candle ever on the hourly showing a potential volume climax for the top. Also on the 4hr chart we have built up a lot of bearish divergence over the past 3-4 weeks likely to print a reversal candle with massive volume. Keep in mind before the run up this use to trade on average ~$8 million in dollar volume. We trade over $2 BILLION yesterday in dollar volume and today's volume is exceeding that with selling. As far as technical indicators go, the weekly was at a high of 92 and daily was flirting with 90 yet again. I have never witnessed a chart go this long in my over 3 years of trading without forming daily higher lows. With a lack of support built on the run up, I anticipate a very heavy pull back on this name.
Running fib retracements from our last daily higher low when this whole impulsive move began, we can look to some levels. Also note the bearish divergence built up on the daily chart. Look to at minimum $62.98 for the first area of possible support, if not we go much lower. Too much bearish divergence with zero support established on daily.
