Solar module maker JinkoSolar (JKS) is preparing for its third quarter earnings report before its opening on Tuesday, November 30th. Below, we’ll look at JKS’s technical settings and explore some of our previous post-earning activities to understand where equity is heading.
JinkoSolar’s share price has recently recovered from the $ 41 level, hitting a nine-month high just above the $ 66 territory on November 22nd. However, stocks have fallen more than 6% in the last two days, below the previous supportive 30 days. moving average. In the long run, JKS has fallen 7.6% year-to-date.
This stock has a mixed history of post-earning reactions over the last two years. In these last eight next-day sessions, JinkoSolar shares showed positive returns in half an hour, including a 21% popback in September 2020. Pricing with a much larger 13.3% move.
Option traders have been very optimistic over the last decade. On the International Stock Exchange (ISE), Cboe Options Exchange (CBOE) and NASDAQ OMX PHLX (PHLX), JKS boasts a 50-day call / put volume ratio of 4.11. This is more than 97% of the last 12 measurements. Several months. This indicates that the call is being picked up with a clip that is much faster than normal.
Shortsellers have already soared to the exit, but there is still a lot of pessimism that could boost market share. Short sales have fallen 13.2% over the last two reporting periods, but short-sold 5.12 million shares still account for a significant 11.3% of the stock’s available floats.