$JKS Continues showing signs of strengthDespite the recent selling JKS continues to show signs of strength, and looks like it wants to breakout of this triangle pattern soon. RSI bullish confluence
Whale trade option flow and price above 30wk MA has my bias to the upside.
An idea would be to follow the whale or go long calls with another OPEX - I'm in JUN 55 calls
Watching for rejection as it isn't a breakout market right now, respect stops
Cheers
Jinkosolar
$JKS Head & Shoulders - Downside Incoming?Looking at this Head and Shoulders pattern from mid August to present, also note the double top in last July and November. Solar sector as a whole is getting beat up everywhere at the moment, and it feels like the writing is on the wall here for $JKS
Their earnings are coming up at the start of March, so I feel there is a danger we catch a little bounce here and consolidate 'til then. However - the setup is here, and I don't want to miss it
I don't really want to see price back above $41. In fact, ideal situation tomorrow is that we get a little upwards move on the market early in the day, and I can find an good entry for a put position whilst price is above $40, with $41 as the stop. If price needs to consolidate and range a little whilst the Market digests this week's upcoming big earnings, then above $41 I don't wanna be involved in the decision making, and would rather take the trade on the breakdown rather than in anticipation if that ends up being the case.
I'm going to be going for March expiry , and I'm going to be going ITM for the main swing position. If we get clear breakdown below $39.00 with conviction then I might day trade weeklies simultaneously and just zone in on $JKS all week.
I'd like the flexibility of letting the swing position run and breathe (whilst trend remains) and trying to take scalps/day trades on weeklies. I've recently had great initial put entries on MTTR, FCEL, and back a little while longer ago on BNED - and each time I didn't show enough patience to hold my puts through long enough and I didn't capitalise nearly as much as I should have on these massive downward runs
No distinct concrete target, but I'd like at least $36.00 and even down to $32.00 I don't think is out of realm of possibility. I think anywhere below that we'll have to be on alert for a bounce around $30 region. But we'll play it as it comes. Hoping to nail this one. But willing to be wrong . Will add to this post tomorrow if I take an entry, with what I bought, when I bought, and for what price.
*this is not Financial Advice, and is merely my opinion and idea*
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 - 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.
JKS - time to take some profits?Since recommendation in November NYSE:JKS is +40%, and is now appraoching major resistance region. Therefore, it is wise to take some profits, with idea to reload after some period of consolidation.
Overall, chart is very constructive and healthy pullback with potential inverted H&S should build strength for much higher levels in the years to come.
JKS - bright future for solar ahead?With ongoing worldwide trends towards clean energy, there is good potential for solar sector to shine in the years ahead.
After rather significant selloff recently some ideas are trying to put a bottom finally, and NYSE:JKS is one of them.
Good earnings released today and breakout through neckline of inverse H&S provide initial signs of reversal.
I entered position on breakout today, and plan to hold as one of core holdings for next year, with some short-term trading in and out.
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Invalid if sloped support is broken with conviction and followed by rejection to the upside! If it only pierces the line and comes right back in we assume bullishness.
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Take care!