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published in Blogs
Oct 12, 2023

Solar Industry Stocks($JKS, $SPWR, $FSLR...) Surge with Notable 7.41% Weekly GainšŸ”„

As concerns about climate change intensify, renewable energy is taking a larger slice of the global energy pie. Solar energy, in particular, has made significant strides thanks to technological advancements. The Solar Energy Industries Association has noted substantial growth in solar installations and forecasts continued progress. The solar sector offers a broad spectrum of investment opportunities: from equipment manufacturers to solar system installers, and from power producers to sellers. Firms like Tesla and Panasonic, although not primary solar companies, have ventured into solar panel manufacturing. Meanwhile, First Solar stands out in this capital-intensive industry, and Pattern Energy has seen its size triple since its 2013 IPO. With expectations that solar will eventually contribute to nearly half of the US's energy needs, this sector offers vast potential for forward-looking investors.

Tickers in Industry - $JKS, $SPWR, $FSLR, $SOL, $CSIQ, $NEP, $RUN, $SEDG, $CWEN

Swing Trader, Long Only: Valuation & Efficiency Model (TA&FA) -Ā Annualized Return + 33%

Notable Companies

Pioneers leading the charge in this industry include:

  • First Solar (NASDAQ:FSLR)
  • SolarEdge Technologies (NASDAQ:SEDG)
  • Canadian Solar (NASDAQ:CSIQ)
  • SunPower Corp (NASDAQ:SPWR)

Market Cap

Companies in this sector vary significantly in terms of market capitalization. On average, the capitalization stands at 3.9B, with the spectrum ranging from a mere 210.8M (MUX) to a whopping 16.2B (FSLR).

High and Low Price Notable News

This week witnessed an average price growth of 5.25% across all stocks in the group. On the brighter side, Clearway Energy (CWEN) led the charge with a +14.02% surge, while Sunrun (RUN) and SunPower (SPWR) followed suit with gains of +11.91% and +6.12%, respectively.

Volume

In terms of volume, the past week saw an average growth of 10.49% across all stocks in the sector. NextEra Energy Partners made headlines on 9/30/23 with a record-breaking daily growth, an impressive 615% jump above its 65-Day Volume Moving Average.

Fundamental Analysis Ratings

While a deeper dive is needed for a comprehensive view, it's worth noting that the average fundamental analysis ratings for companies in this sector range from 1 (best) to 100 (worst).

As the global shift towards renewable energy continues, the solar industry is poised for significant growth, offering numerous opportunities for investors keen on harnessing the sun's potential.

SOLĀ -Ā SOL's stock trajectory has taken a bearish turn, witnessing a drop for three consecutive days as of October 05, 2023. Historical trends show that when SOL has faced a three-day decline, it continued to slide further in 266 out of 314 instances over the following month. The probability of this downtrend persisting stands at 85%.

CSIQĀ -Ā On October 02, 2023, CSIQ's price breached its lower Bollinger Band, indicating a potential upward shift. Historically, when CSIQ moved past its lower Bollinger Band, it showed a tendency to rebound toward the middle band. From past observations, in 30 out of 36 such instances, the stock experienced further gains in the subsequent month. Given this, there's an 83% likelihood of the stock maintaining its upward momentum. Traders might look into purchasing the stock or considering call options.

NEPĀ -Ā On October 04, 2023, NEP's Aroon Indicator signaled a potential downward shift, as evidenced by the AroonDown red line surpassing 70, while the AroonUp green line remained below 30 for three consecutive days. Such a pattern suggests that NEP might face a significant decline in the coming period. Given this bearish sign, traders could contemplate either offloading the stock or acquiring put options. Based on historical analysis from A.I.dvisor, out of 155 similar Aroon patterns, the stock declined in 99 instances, suggesting a 64% probability of a continued downtrend.

Related Ticker: JKS, SPWRQ, FSLR, SOL, CSIQ, NEP, RUN, SEDG, CWEN

Momentum Indicator for JKS turns negative, indicating new downward trend

JKS saw its Momentum Indicator move below the 0 level on December 19, 2024. This is an indication that the stock could be shifting in to a new downward move. Traders may want to consider selling the stock or exploring put options. Tickeron's A.I.dvisor looked at 114 similar instances where the indicator turned negative. In of the 114 cases, the stock moved further down in the following days. The odds of a decline are at .

Price Prediction Chart

Technical Analysis (Indicators)

Bearish Trend Analysis

The 10-day RSI Indicator for JKS moved out of overbought territory on December 11, 2024. This could be a bearish sign for the stock. Traders may want to consider selling the stock or buying put options. Tickeron's A.I.dvisor looked at 20 similar instances where the indicator moved out of overbought territory. In of the 20 cases, the stock moved lower in the following days. This puts the odds of a move lower at .

The Moving Average Convergence Divergence Histogram (MACD) for JKS turned negative on December 19, 2024. This could be a sign that the stock is set to turn lower in the coming weeks. Traders may want to sell the stock or buy put options. Tickeron's A.I.dvisor looked at 60 similar instances when the indicator turned negative. In of the 60 cases the stock turned lower in the days that followed. This puts the odds of success at .

JKS moved below its 50-day moving average on December 20, 2024 date and that indicates a change from an upward trend to a downward trend.

Following a 3-day decline, the stock is projected to fall further. Considering past instances where JKS declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .

JKS broke above its upper Bollinger Band on December 09, 2024. This could be a sign that the stock is set to drop as the stock moves back below the upper band and toward the middle band. You may want to consider selling the stock or exploring put options.

Bullish Trend Analysis

The Stochastic Oscillator demonstrated that the ticker has stayed in the oversold zone for 1 day, which means it's wise to expect a price bounce in the near future.

The 10-day moving average for JKS crossed bullishly above the 50-day moving average on December 06, 2024. This indicates that the trend has shifted higher and could be considered a buy signal. In of 12 past instances when the 10-day crossed above the 50-day, the stock continued to move higher over the following month. The odds of a continued upward trend are .

Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where JKS advanced for three days, in of 276 cases, the price rose further within the following month. The odds of a continued upward trend are .

The Aroon Indicator entered an Uptrend today. In of 118 cases where JKS Aroon's Indicator entered an Uptrend, the price rose further within the following month. The odds of a continued Uptrend are .

Market Cap

The average market capitalization across the group is 1.29B. The market cap for tickers in the group ranges from 1.29B to 1.29B. JKS holds the highest valuation in this group at 1.29B. The lowest valued company is JKS at 1.29B.

High and low price notable news

The average weekly price growth across all stocks in the group was -15%. For the same group, the average monthly price growth was 6%, and the average quarterly price growth was 12%. JKS experienced the highest price growth at -15%, while JKS experienced the biggest fall at -15%.

Volume

The average weekly volume growth across all stocks in the group was 141%. For the same stocks of the group, the average monthly volume growth was 89% and the average quarterly volume growth was 27%

Fundamental Analysis Ratings

The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows

Valuation Rating: 7
P/E Growth Rating: 1
Price Growth Rating: 47
SMR Rating: 85
Profit Risk Rating: 83
Seasonality Score: 50 (-100 ... +100)
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General Information

a company which engages in integrated solar power product manufacturing and operating

Industry

Profile
Fundamentals
Details
Industry
Electrical Products
Address
1 Yingbin Road
Phone
+86 7938588188
Employees
46511
Web
https://www.jinkosolar.com/en
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