Market Overview

The Technical Take: JinkoSolar Higher After Q3 Beat

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JinkoSolar Holding Co., Ltd. (NYSE: JKS) shares are trading higher by $0.85 (6 percent) at $14.60 in Wednesday's session. The catalyst for the rally is a solid Q3 beat of $0.85 along with a $106 million beat for revenues.

Following a sharply higher open, it rallied another $0.16 before topping out at $15.15 and reversing course. That marks the highest level for the issue since it put in a pair of highs in the upper $15 handle on November 7 ($15.72) and November 8 ($15.60).

The ensuing decline has yet to reach the upper-end of Tuesday's range ($13.80) as the current low stands at $14.35.

Today's price action is taking place on heavier than average volume. The issue has already exceeded its volume from Tuesday (467,000) as 505,000 shares have traded in the first 25 minutes of the session.

Posted-In: Technicals Intraday Update Movers Trading Ideas

 

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