Solar Industry Stocks($JKS, $SPWR, $FSLR...) Surge with Notable 7.41% Weekly Gainš„
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.
JKS sees MACD Histogram crosses below signal line
JKS saw its Moving Average Convergence Divergence Histogram (MACD) turn negative on September 04, 2024. This is a bearish signal that suggests the stock could decline going forward. Tickeron's A.I.dvisor looked at 57 instances where the indicator turned negative. In of the 57 cases the stock moved lower in the days that followed. This puts the odds of a downward move at .
Market Cap
High and low price notable news
Volume
Fundamental Analysis Ratings
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
