CANADIAN SOLAR INC. - Daily - Technical analysis published on 08/14/2019 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Court terme:
Strongly bullish
De fond:
Strongly bullish
Technical indicators
78%
0%
22%
My opinion
Bullish above 20.19 USD
My targets
22.36 USD (+2.29%)
23.64 USD (+8.14%)
My analysis
All elements being clearly bullish, it would be possible for traders to trade only long positions (at the time of purchase) on CANADIAN SOLAR INC. as long as the price remains well above 20.19 USD. The buyers” bullish objective is set at 22.36 USD. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 23.64 USD. If there is any crossing, the next objective would be the resistance located at 24.99 USD. However, beware of bullish excesses that could lead to a possible short-term correction; but this possible correction would not be tradeable.
Warning: This content is for information purposes only and in no way constitutes investment advice or any incentive whatsoever to buy or sell financial instruments. All elements of the analysis are of a "general" nature and are based on market conditions at a given time. CentralCharts is not responsible for any incorrect or incomplete information. Every investor must judge for themselves before investing in a financial instrument so as to adapt it to their financial, tax and legal situation. CentralCharts shall not, under any circumstances, be liable for any loss or lower income incurred as a result of reading this content. Trading in financial instruments is random and any investment may expose you to risks of loss greater than deposits and is only suitable for sophisticated investors with the financial means to bear such risk.
This analysis was given by Vincent Launay. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
CANADIAN SOLAR INC. rating 21.86 USD. The price registered an increase of +2.73% on the session with the lowest point at 21.04 USD and the highest point at 21.95 USD. The deviation from the price is +3.90% for the low point and -0.41% for the high point.21.04
21.95
21.86
A study of price movements over other periods shows the following variations:
Technical
A technical analysis in Daily of this CANADIAN SOLAR INC. chart shows a strongly bullish trend. 89.29% of the signals given by moving averages are bullish. The overall trend is supported by the strong bullish signals from short-term moving averages. An assessment of moving averages reveals several bearish signals that could impact this trend:
Bearish price crossover with Moving Average 50
Type : Bearish
Timeframe : Daily
Bearish price crossover with adaptative moving average 20
Type : Bearish
Timeframe : Daily
In fact, 14 technical indicators on 18 studied are currently bullish. But beware of excesses. The Central Indicators scanner currently detects this:
MACD indicator: bearish divergence
Type : Bearish
Timeframe : Daily
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : Daily
Pivot points : price is over resistance 1
Type : Neutral
Timeframe : Daily
Price is back over the pivot point
Type : Bullish
Timeframe : Weekly
Price is back under the pivot point
Type : Bearish
Timeframe : Daily
Williams %R indicator is back under -50
Type : Bearish
Timeframe : Daily
An analysis of the price chart with the Central Patterns scanner (detector of chart patterns and resistances and supports) shows a result that can have an impact on the price change:
Near resistance of triangle
Type : Bearish
Timeframe : Daily
For a small setback in the very short term, the Central Candlesticks scanner currently notes the presence of this bearish pattern in Japanese candlesticks:
Downside gap
Type : Bearish
Timeframe : Daily
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 17.47 | 18.90 | 20.19 | 21.86 | 22.36 | 23.64 | 24.99 |
| Change (%) | -20.08% | -13.54% | -7.64% | - | +2.29% | +8.14% | +14.32% |
| Change | -4.39 | -2.96 | -1.67 | - | +0.50 | +1.78 | +3.13 |
| Level | Major | Major | Major | - | Major | Minor | Major |
To determine price objectives, it is also possible to use the pivot points. Here is the price position in relation to pivot points:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 20.47 | 20.79 | 21.03 | 21.35 | 21.59 | 21.91 | 22.15 |
| Camarilla | 21.13 | 21.18 | 21.23 | 21.28 | 21.33 | 21.38 | 21.43 |
| Woodie | 20.44 | 20.77 | 21.00 | 21.33 | 21.56 | 21.89 | 22.12 |
| Fibonacci | 20.79 | 21.00 | 21.13 | 21.35 | 21.56 | 21.69 | 21.91 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 18.36 | 19.23 | 20.55 | 21.42 | 22.73 | 23.60 | 24.92 |
| Camarilla | 21.26 | 21.46 | 21.66 | 21.86 | 22.06 | 22.26 | 22.46 |
| Woodie | 18.58 | 19.34 | 20.77 | 21.53 | 22.95 | 23.71 | 25.14 |
| Fibonacci | 19.23 | 20.07 | 20.58 | 21.42 | 22.25 | 22.77 | 23.60 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 16.99 | 18.43 | 19.88 | 21.32 | 22.77 | 24.21 | 25.66 |
| Camarilla | 20.53 | 20.79 | 21.06 | 21.32 | 21.59 | 21.85 | 22.12 |
| Woodie | 16.99 | 18.43 | 19.88 | 21.32 | 22.77 | 24.21 | 25.66 |
| Fibonacci | 18.43 | 19.54 | 20.22 | 21.32 | 22.43 | 23.11 | 24.21 |
Numerical data
The following is the status of the technical indicators and moving averages at the time of publication of this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 55.03 | |
| MACD (12,26,9): | 0.1900 | |
| Directional Movement: | 5.37 | |
| AROON (14): | 28.57 | |
| DEMA (21): | 21.55 | |
| Parabolic SAR (0,02-0,02-0,2): | 22.98 | |
| Elder Ray (13): | 0.05 | |
| Super Trend (3,10): | 20.19 | |
| Zig ZAG (10): | 21.86 | |
| VORTEX (21): | 0.9800 | |
| Stochastique (14,3,5): | 51.49 | |
| TEMA (21): | 21.62 | |
| Williams %R (14): | -42.94 | |
| Chande Momentum Oscillator (20): | 1.45 | |
| Repulse (5,40,3): | 4.4500 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0500 | |
| Courbe Coppock: | 9.45 |
| MA7: | 21.49 | |
| MA20: | 21.13 | |
| MA50: | 21.36 | |
| MA100: | 20.18 | |
| MAexp7: | 21.60 | |
| MAexp20: | 21.34 | |
| MAexp50: | 21.04 | |
| MAexp100: | 20.51 | |
| Price / MA7: | +1.72% | |
| Price / MA20: | +3.45% | |
| Price / MA50: | +2.34% | |
| Price / MA100: | +8.33% | |
| Price / MAexp7: | +1.20% | |
| Price / MAexp20: | +2.44% | |
| Price / MAexp50: | +3.90% | |
| Price / MAexp100: | +6.58% |
News
Don"t forget to follow the news on CANADIAN SOLAR INC.. At the time of publication of this analysis, the latest news was as follows:
- Canadian Solar Energizes Largest Solar Power Plant in Argentina
- Canadian Solar Schedules Second Quarter 2019 Earnings Conference Call for August 15
- Canadian Solar Signs Electricity Agreement on Alberta's Largest Solar Photovoltaic Project
- Canadian Solar Won a 51 MWp Solar Power Project in Brazil
- Canadian Solar Announces Commercial Operation on Its First Third Party EPC Project in Vietnam
This member declared not having a position on this financial instrument or a related financial instrument.
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