Company Overview: JinkoSolar Holding Company Limited (NYSE: JKS) engages in the design, development, production, and marketing of photovoltaic products which offers solar modules, silicon wafers, solar cells, recovered silicon materials, and silicon ingots. This Report covers the Price Action, Technical Indicators Analysis along with the Support Levels, Resistance Levels, and Recommendations on these stocks.

JKS’ Technical Analysis:

JKS' price is trading below an upward sloping trend line breakout level with a negative bias, indicating the possibility of sideways to negative movement. However, the RSI (14-period) is generating a bottom divergence compared to prices near the oversold zone, indicating the possibility of a minor rebound. Prices are trading below both the 21-period and 50-day SMAs, which may function as dynamic resistance levels for the stock. Important support for the stock is positioned at USD 25.00, while key resistance is placed at USD 32.37.

Daily Technical Chart – JKS

Considering the stock's current price levels trading with a negative bias and technical indicators analysis, a 'Watch' recommendation is given on the stock. The stock was analysed as per the closing price of USD 29.19 per share as on 11 September 2023, up by 0.38%. JinkoSolar Holding Company Limited (NYSE: JKS) was last covered in a report dated '24 January 2023'.

Individuals can evaluate the stock based on the support and resistance levels provided in the report in case of keen interest, taking into consideration the risk-reward scenario.

Markets are trading in a highly volatile zone currently due to certain macro-economic issues and geopolitical tensions prevailing. Therefore, it is prudent to follow a cautious approach while investing.

Note 1: Past performance is neither an Indicator nor a guarantee of future performance.

Note 2: Investment decision should be made depending on an individual’s appetite for upside potential, risks, and any previous holdings. This recommendation is purely based on technical analysis, and fundamental analysis has not been considered in this report.

Note 3: Related Risks: This report may be looked at from high-risk perspective and recommendations are provided are for a short duration. Recommendations provided in this report are solely based on technical parameters, and the fundamental performance of the stocks has not been considered in the decision-making process. Other factors which could impact the stock prices include market risks, regulatory risks, interest rates risks, currency risks, social and political instability risks etc.

The reference date for all price data, currency, technical indicators, support, and resistance levels is September 11, 2023. The reference data in this report has been partly sourced from REFINITIV.

Technical Indicators Defined:

Support: A level at which the stock prices tend to find support if they are falling, and a downtrend may take a pause backed by demand or buying interest. Support 1 refers to the nearby support level for the stock and if the price breaches the level, then Support 2 may act as the crucial support level for the stock.

Resistance: A level at which the stock prices tend to find resistance when they are rising, and an uptrend may take a pause due to profit booking or selling interest. Resistance 1 refers to the nearby resistance level for the stock and if the price surpasses the level, then Resistance 2 may act as the crucial resistance level for the stock.

Stop-loss: It is a level to protect further losses in case of unfavourable movement in the stock prices.

The Green colour line reflects the 21-period moving average. SMA helps to identify existing price trends. If the prices are trading above the 21-period, prices are currently in a bullish trend (Vice – Versa).

The Blue colour line reflects the 50-period moving average. SMA helps to identify existing price trends. If the prices are trading above the 50-period, prices are currently in a bullish trend (Vice – Versa).

The Orange/ Yellow colour line represents the Trendline.

The Purple colour line in the chart’s lower segment reflects the Relative Strength Index (14-Period), which indicates price momentum and signals momentum in trend. A reading of 70 or above suggests overbought status, while a reading of 30 or below suggests an oversold status.