JinkoSolar: Defying Downgrade,Aiming for Bullish MomentumJinkoSolar Holding Co., Ltd. ( NYSE:JKS ) has recently been downgraded by Daiwa Securities from " Underperform " to " Sell ," with a revised price target of $20 .
Despite this downgrade, the stock has demonstrated bullish momentum, with a mid-term target of $33.42.
Notably, JinkoSolar's Relative Strength (RS) Rating has improved, rising from 71 to 82 , indicating that the stock is outperforming a majority of stocks in terms of price movement over the past 52 weeks.
Additionally, China's solar sector is showing signs of recovery, with increases in polysilicon prices and potential growth in renewable energy markets in Southeast Asia and India.
In conclusion, while the recent downgrade by Daiwa Securities reflects certain concerns, the stock's bullish momentum and improving technical indicators suggest potential upside, with a mid-term target of $33.42 .
