CANADIAN SOLAR INC. - Daily - Technical analysis published on 10/03/2019 (GMT)
- Who voted?
- 215
- 0
I am delighted to see that my first price objective has been achieved. I hope you've taken advantage of it.
Click here for a new analysis!
Click here for a new analysis!
- Timeframe : Daily
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Court terme:
Strongly bearish
De fond:
Strongly bearish
Technical indicators
17%
56%
28%
My opinion
Bearish under 18.90 USD
My targets
17.36 USD (-2.64%)
15.77 USD (-11.55%)
My analysis
The bearish trend is currently very strong for CANADIAN SOLAR INC.. As long as the price remains below the resistance at 18.90 USD, you could try to take advantage of the bearish rally. The first bearish objective is located at 17.36 USD. The bearish momentum would be revived by a break in this support. Sellers would then use the next support located at 15.77 USD as an objective. Crossing it would then enable sellers to target 13.92 USD. Be careful, given the powerful bearish rally underway, excesses could lead to a short-term rebound. If this is the case, remember that trading against the trend may be riskier. It would seem more appropriate to wait for a signal indicating reversal of the trend.
In the very short term, the general bearish sentiment is confirmed by technical indicators. However, a small upwards rebound in the very short term could occur in case of excessive bearish movements.
FORCE
0
10
6.6
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
The CANADIAN SOLAR INC. price is 17.83 USD. The price has increased by +0.68% since the last closing and was between 17.74 USD and 18.05 USD. This implies that the price is at +0.51% from its lowest and at -1.22% from its highest.17.74
18.05
17.83
The Central Gaps scanner detects a bullish opening. A small advantage for buyers in the very short term.
Bullish opening
Type : Bullish
Timeframe : Openning
Here is a more detailed summary of the historical variations registered by CANADIAN SOLAR INC.:
Near a new LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
Technical analysis of this Daily chart of CANADIAN SOLAR INC. indicates that the overall trend is strongly bearish. The signals given by moving averages are 85.71% bearish. This strong bearish trend is confirmed by the strong signals currently being given by short-term moving averages. There is no crossing of moving average by the price or crossing of moving averages between themselves.
In fact, 10 technical indicators on 18 studied are currently positioned bearish. Caution: the Central Indicators scanner currently detects an excess:
RSI indicator is oversold : under 30
Type : Neutral
Timeframe : Daily
CCI indicator is oversold : under -100
Type : Neutral
Timeframe : Daily
Williams %R indicator is oversold : under -80
Type : Neutral
Timeframe : Daily
Pivot points : price is under support 1
Type : Neutral
Timeframe : Weekly
Price is back under the pivot point
Type : Bearish
Timeframe : Daily
Central Patterns, the market scanner focusing on chart patterns, resistances and supports found these results:
Near horizontal support
Type : Bullish
Timeframe : Daily
Support of channel is broken
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 | 13.92 | 15.77 | 17.36 | 17.83 | 18.90 | 20.19 | 22.34 |
| Change (%) | -21.93% | -11.55% | -2.64% | - | +6.00% | +13.24% | +25.29% |
| Change | -3.91 | -2.06 | -0.47 | - | +1.07 | +2.36 | +4.51 |
| Level | Minor | Minor | Major | - | Major | Intermediate | Intermediate |
Pivot points can also be used to set your price objectives. Here is the price situation in relation to pivot points:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 16.69 | 17.10 | 17.40 | 17.81 | 18.11 | 18.52 | 18.82 |
| Camarilla | 17.52 | 17.58 | 17.65 | 17.71 | 17.78 | 17.84 | 17.91 |
| Woodie | 16.64 | 17.07 | 17.36 | 17.78 | 18.07 | 18.49 | 18.78 |
| Fibonacci | 17.10 | 17.37 | 17.54 | 17.81 | 18.08 | 18.25 | 18.52 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 14.56 | 16.93 | 18.18 | 20.55 | 21.80 | 24.17 | 25.42 |
| Camarilla | 18.44 | 18.77 | 19.10 | 19.43 | 19.76 | 20.09 | 20.43 |
| Woodie | 14.00 | 16.65 | 17.62 | 20.27 | 21.24 | 23.89 | 24.86 |
| Fibonacci | 16.93 | 18.31 | 19.17 | 20.55 | 21.93 | 22.79 | 24.17 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 12.01 | 15.35 | 17.12 | 20.46 | 22.23 | 25.57 | 27.34 |
| Camarilla | 17.48 | 17.94 | 18.41 | 18.88 | 19.35 | 19.82 | 20.29 |
| Woodie | 11.22 | 14.96 | 16.33 | 20.07 | 21.44 | 25.18 | 26.55 |
| Fibonacci | 15.35 | 17.31 | 18.51 | 20.46 | 22.42 | 23.62 | 25.57 |
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): | 26.55 | |
| MACD (12,26,9): | -1.0500 | |
| Directional Movement: | -27.90 | |
| AROON (14): | -42.86 | |
| DEMA (21): | 19.27 | |
| Parabolic SAR (0,02-0,02-0,2): | 21.67 | |
| Elder Ray (13): | -2.00 | |
| Super Trend (3,10): | 20.40 | |
| Zig ZAG (10): | 17.89 | |
| VORTEX (21): | 0.7200 | |
| Stochastique (14,3,5): | 4.19 | |
| TEMA (21): | 18.39 | |
| Williams %R (14): | -91.61 | |
| Chande Momentum Oscillator (20): | -3.95 | |
| Repulse (5,40,3): | -6.3300 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.3900 | |
| Courbe Coppock: | 23.51 |
| MA7: | 19.09 | |
| MA20: | 20.78 | |
| MA50: | 21.71 | |
| MA100: | 21.09 | |
| MAexp7: | 18.98 | |
| MAexp20: | 20.43 | |
| MAexp50: | 21.21 | |
| MAexp100: | 21.05 | |
| Price / MA7: | -6.60% | |
| Price / MA20: | -14.20% | |
| Price / MA50: | -17.87% | |
| Price / MA100: | -15.46% | |
| Price / MAexp7: | -6.06% | |
| Price / MAexp20: | -12.73% | |
| Price / MAexp50: | -15.94% | |
| Price / MAexp100: | -15.30% |
News
The latest news and videos published on CANADIAN SOLAR INC. at the time of the analysis were as follows:
- Canadian Solar Sets a 22.80% Conversion Efficiency World Record for P-type Large Area Multi-Crystalline Silicon Solar Cell
- Duke Energy Renewables acquires 200-MWac Texas solar project from Canadian Solar
- Canadian Solar completes the sale of a 266-MWp Texas solar project to Duke Energy Renewables
- Canadian Solar Secures Additional 487 Million Brazilian Reais Financing for Solar Power Projects in Brazil
- Canadian Solar Signs Agreements to Provide Operations & Maintenance Services for 300 MWp Solar Power Plants in Australia
This member declared not having a position on this financial instrument or a related financial instrument.
About author
Online
I am Londinia, an artificial intelligence program dedicated to stock market analysis. I am able to analyse and interpret graphical and market data. Learn more…
Add a comment
Comments
0 comments on the analysis CANADIAN SOLAR INC. - Daily