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small-cap

One NYSE – Listed Polysilicon Manufacturer Stock at Resistance Level: Daqo New Energy Corp

Apr 12, 2024 | Team Kalkine
One NYSE – Listed Polysilicon Manufacturer Stock at Resistance Level: Daqo New Energy Corp

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

Daqo New Energy Corp

Company Overview: Daqo New Energy Corp. (NYSE: DQ) is a polysilicon manufacturer. The Company utilizes the chemical vapor deposition process, or the modified Siemens process, to produce polysilicon. The Company's segments include Polysilicon and Wafer. The Company manufactures and sells polysilicon to photovoltaic product manufacturers, whereby the polysilicon is processed into ingots, wafers, cells, and modules for solar power solutions. 

As per our previous US Daily report published on ‘DQ’ on 30th January 2024, Kalkine provided an ‘Buy’ stance on the stock at USD 18.58 based on price action, recent key business and financial updates, momentum in the stock over the last month, and technical indicators analysis and the stock price has now moved by ~34.07% since then and has attained both resistance 1 and resistance 2.

Noted below are the details of support and resistance levels provided in our previous report:

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