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US Technical Analysis Report

One NYSE– Listed Renewable Energy Stock Poised for Upside as Russell 3000 Edged Lower– JKS

May 24, 2024

JKS:NYSE
Investment Type
Small-Cap
Risk Level
Action
Rec. Price (US$)

Company Overview:  Jinko Solar Holding Company Ltd. (NYSE: JKS) is a vertically integrated solar power product value chain, ranging from recovering silicon materials to manufacturing solar modules and solar power generation. The company's segments are the manufacturing segment and the solar power projects segment. This Report covers the Price Action, Technical Indicators Analysis along with the Target Levels, Stop Loss, Support Levels, Resistance Levels, and Recommendation on stock.

US Markets Round-Up

This week, the Russell 3000 index, an important benchmark of the US stock market across market capitalizations, started the week on a negative note and continued the momentum. The index made low of 2999.215 during the week and settled at 3005.097 with a week-to-date (WTD) loss of ~0.887 percent on May 23, 2024Other major indices, such as S&P 500 and NASDAQ Composite displayed sideways move for the week. On May 23, 2024, the S&P 500 index settled at 5267.85 with a WTD loss of ~0.67 percent, while the NASDAQ Composite Index settled at 16736.033 with a WTD gain of ~0.30 percent.  

Having understood the US market performance over the week, taking cues from major global news, and based on technical analysis of the Russell 3000 index for the upcoming week, now let’s have a look at the one NYSE-listed stock to pick from the technical standpoint. Noted below recommendation is based on the entry price, target prices, and stop-loss for JinkoSolar Holding Company Ltd. (NYSE: JKS) for the next 2-4 weeks duration: 

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Disclaimer-

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