Long Position on JKS @ $63.00 on 7/15/2022 (Momentum)

JinkoSolar Holding Co. (JKS engages in the design, development, production, and marketing of photovoltaic products. Stockwinners

The company offers solar modules, silicon wafers, solar cells, recovered silicon materials, and silicon ingots.

It also provides solar system integration services; and develops commercial solar power projects.

The company sells its products to distributors, project developers, system integrators, and manufacturers of solar power products under the JinkoSolar brand.

As of March 31, 2022, it had an integrated annual capacity of 40 gigawatts (GW) for mono wafers; 40.0 GW for solar cells; and 50.0 GW for solar modules.

The company has operations in the People's Republic of China, the United States, Mexico, Australia, Japan, United Arab Emirates, Turkey, Jordan, Vietnam, Egypt, Spain, and Germany. 

Shares are heading higher in an upward trading channel. We expect shares to see a minor pullback followed by higher stock prices.

 

Entry Point: $63.00

Trading Range: $35.41 to $76.92

Stop Loss: $60.00

Target Price: $69.50

Position closed on 8/11/2022 at price of $68.00 with a 7.94% gain in 27 days.

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