EMEREN GROUP LTD ADS

- USD (-)

- 15 min delayed data - NYSE Stocks

Open:	-
Change:	-
Volume:	-

Low:	-
High:	-
High / Low range:	-

Type:	Stocks
Ticker:	SOL
ISIN:

EMEREN GROUP LTD ADS - Weekly - Technical analysis published on 01/26/2021 (GMT)

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Timeframe : Weekly
- Analysis generated on
Status : INVALID

Summary of the analysis

Trends

Court terme: Strongly bullish

De fond: Strongly bullish

Technical indicators

83%

11%

My opinion

Bullish above 22.89 USD

My targets

30.53 USD (+8.77%)

38.79 USD (+38.20%)

My analysis

RENESOLA is part of a very strong bullish trend. Traders may consider trading only long positions (at the time of purchase) as long as the price remains well above 22.89 USD. The next resistance located at 30.53 USD is the next bullish objective to be reached. A bullish break in this resistance would boost the bullish momentum. The bullish movement could then continue towards the next resistance located at 38.79 USD. After this resistance, buyers could then target 72.75 USD. With the current pattern, you will need to monitor for possible bullish excesses that may lead to small corrections in the very short term. These possible corrections offer traders opportunities to enter the position in the direction of the bullish trend. Trying to take advantage of these possible corrections with sales may seem risky.

Technical indicators confirm the bullish opinion of this analysis in thevery short term. However, be careful of excessive bullish movements. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.

Force

8.6

Comment on the analysis

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 savas. Take part yourself by sharing additional analysis on another time unit:

Additional analysis

Quotes

The RENESOLA price is 28.07 USD. The price registered an increase of +12.96% over 5 days with the lowest point at 25.03 USD and the highest point at 35.77 USD. The deviation from the price is +12.14% for the low point and -21.54% for the high point.

25.03

35.77

28.07

A bullish opening was detected by the Central Gaps scanner. Buyers are trying to impose a bullish momentum in the very short term.

Bullish opening

Type : Bullish

Timeframe : Openning

A study of price movements over other periods shows the following variations:

The Central Records scanner, which identifies the highest / lowest, has detected an element:

New HIGH record (5 years)

Type : Bullish

Timeframe : Weekly

The Central Volumes scanner detects abnormal volumes on the asset:

Abnormal volumes

Timeframe : 5 days

Abnormal volumes

Timeframe : 20 days

Abnormal volumes

Timeframe : 50 days

Technical

Technical analysis of this Weekly chart of RENESOLA indicates that the overall trend is strongly bullish. 92.86% of the signals given by moving averages are bullish. This strongly bullish trend is supported by the strong bullish signals given by short-term moving averages. There is no crossing of moving average by the price or crossing of moving averages between themselves.

The probability of a further increase is high given the direction of the technical indicators.
But beware of excesses. The Central Indicators scanner currently detects this:

RSI indicator is overbought : over 90

Type : Neutral

Timeframe : Weekly

CCI indicator is overbought : over 100

Type : Neutral

Timeframe : Weekly

Williams %R indicator is overbought : over -20

Type : Neutral

Timeframe : Weekly

Central Indicators, the scanner specialised in technical indicators, has identified this signal:

Price is back over the pivot point

Type : Bullish

Timeframe : Weekly

The analysis of the price chart with Central Patterns scanners does not return any result.

For a small rebound in the very short term, the Central Candlesticks scanner currently notes the presence of this bullish pattern in Japanese candlesticks:

Long white line

Type : Bullish

Timeframe : Weekly

ProTrendLines

Price

	S3	S2	S1	Price	R1	R2	R3
ProTrendLines	2.95	3.66	10.38	28.07	28.80	72.75	139.00
Change (%)	-89.49%	-86.96%	-63.02%	-	+2.60%	+159.17%	+395.19%
Change	-25.12	-24.41	-17.69	-	+0.73	+44.68	+110.93
Level	Minor	Intermediate	Major	-	Intermediate	Major	Minor

Attention could also be paid to pivot points to set price objectives:

Daily

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	21.84	23.44	24.81	26.41	27.78	29.38	30.75
Camarilla	25.37	25.65	25.92	26.19	26.46	26.73	27.01
Woodie	21.74	23.38	24.71	26.35	27.68	29.32	30.65
Fibonacci	23.44	24.57	25.27	26.41	27.54	28.24	29.38

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	11.78	17.03	25.29	30.53	38.79	44.04	52.30
Camarilla	29.84	31.07	32.31	33.55	34.79	36.03	37.26
Woodie	13.29	17.78	26.80	31.29	40.30	44.79	53.81
Fibonacci	17.03	22.19	25.37	30.53	35.69	38.88	44.04

Monthly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	-1.56	1.74	6.59	9.89	14.74	18.04	22.89
Camarilla	9.19	9.94	10.68	11.43	12.18	12.92	13.67
Woodie	-0.80	2.13	7.36	10.28	15.51	18.43	23.66
Fibonacci	1.74	4.86	6.78	9.89	13.01	14.93	18.04

Numerical data

The following are the details of the technical indicators and moving averages that were collected to generate this technical analysis:

Technical indicators

Moving averages

RSI (14):	77.46
MACD (12,26,9):	6.0000
Directional Movement:	52.23
AROON (14):	85.72
DEMA (21):	18.90
Parabolic SAR (0,02-0,02-0,2):	15.79
Elder Ray (13):	11.21
Super Trend (3,10):	15.79
Zig ZAG (10):	27.51
VORTEX (21):	1.2500
Stochastique (14,3,5):	85.02
TEMA (21):	23.61
Williams %R (14):	-24.71
Chande Momentum Oscillator (20):	24.33
Repulse (5,40,3):	59.7300
ROCnROLL:	1
TRIX (15,9):	13.8000
Courbe Coppock:	1,012.56

MA7:	27.17
MA20:	20.59
MA50:	12.24
MA100:	7.52
MAexp7:	21.13
MAexp20:	12.37
MAexp50:	6.81
MAexp100:	4.47
Price / MA7:	+3.31%
Price / MA20:	+36.33%
Price / MA50:	+129.33%
Price / MA100:	+273.27%
Price / MAexp7:	+32.84%
Price / MAexp20:	+126.92%
Price / MAexp50:	+312.19%
Price / MAexp100:	+527.96%

Quotes : 2021-01-26 20:10:11 - 15 min delayed data - NYSE Stocks

News

The last news published on RENESOLA at the time of the generation of this analysis was as follows:

This member declared not having a position on this financial instrument or a related financial instrument.

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