Londinia Opportunities Analyses - 05/06/2024 (GMT) CANADIAN SOLAR INC. - 1H

- USD (-)

- 15 min delayed data - NASDAQ Stocks

Type:	Stocks
Ticker:	CSIQ
ISIN:	CA1366351098

Londinia

I am delighted to see that my first price objective has been achieved. I hope you've taken advantage of it.

U.S. Stocks
Timeframe : 1H
- Analysis generated on
Status : TARGET REACHED

Summary of the analysis

Trends

Short term: Strongly bullish

Underlying: Strongly bullish

Technical indicators

78%

11%

My opinion

Bullish above 16.75 USD

My targets

17.37 USD (+2.30%)

17.96 USD (+5.77%)

My analysis

The bullish trend is currently very strong on CANADIAN SOLAR INC.. As long as the price remains above the support at 16.75 USD, you could try to benefit from the boom. The first bullish objective is located at 17.37 USD. The bullish momentum would be boosted by a break in this resistance. Buyers would then use the next resistance located at 17.96 USD as an objective. Crossing it would then enable buyers to target 18.86 USD. Be careful, given the powerful bullish rally underway, excesses could lead to a possible correction in the short term. 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 bullish sentiment is confirmed by technical indicators. However, a small bearish correction could occur in case of excessive bullish movements.

Force

8.2

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Additional analysis

Quotes

CANADIAN SOLAR INC. rating 16.98 USD. On the day, this instrument gained +1.13% with the lowest point at 16.81 USD and the highest point at 17.11 USD. The deviation from the price is +1.01% for the low point and -0.76% for the high point.

16.81

17.11

16.98

Here is a more detailed summary of the historical variations registered by CANADIAN SOLAR INC.:

Technical

Technical analysis of this 1H chart of CANADIAN SOLAR INC. indicates that the overall trend is strongly bullish. The signals given by the moving averages are 92.86% bullish. This strong bullish trend is confirmed by the strong signals currently being given by short-term moving averages. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.

In fact, 14 technical indicators on 18 studied are currently bullish. Central Indicators, the scanner specialised in technical indicators, has identified this signal:

MACD crosses UP its Moving Average

Type : Bullish

Timeframe : 1 hour

Central Patterns, the scanner specializing in chart patterns, did not identify any signals.

From the Japanese candlestick perspective, the Central Candlesticks scanner notes the presence of these results that could impact the short-term trend:

Doji

Type : Neutral

Timeframe : 1 hour

Bearish harami cross

Type : Bearish

Timeframe : 1 hour

ProTrendLines

Price

	S3	S2	S1	Price	R1	R2	R3
ProTrendLines	15.11	15.94	16.75	16.98	17.37	17.96	18.86
Change (%)	-11.01%	-6.12%	-1.35%	-	+2.30%	+5.77%	+11.07%
Change	-1.87	-1.04	-0.23	-	+0.39	+0.98	+1.88
Level	Minor	Major	Minor	-	Intermediate	Minor	Minor

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	15.72	16.16	16.48	16.92	17.24	17.68	18.00
Camarilla	16.58	16.65	16.72	16.79	16.86	16.93	17.00
Woodie	15.65	16.13	16.41	16.89	17.17	17.65	17.93
Fibonacci	16.16	16.45	16.63	16.92	17.21	17.39	17.68

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	13.83	14.66	15.72	16.55	17.61	18.44	19.50
Camarilla	16.27	16.44	16.62	16.79	16.96	17.14	17.31
Woodie	13.96	14.72	15.85	16.61	17.74	18.50	19.63
Fibonacci	14.66	15.38	15.83	16.55	17.27	17.72	18.44

Monthly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	7.31	10.71	13.46	16.86	19.61	23.01	25.76
Camarilla	14.52	15.08	15.65	16.21	16.77	17.34	17.90
Woodie	6.99	10.55	13.14	16.70	19.29	22.85	25.44
Fibonacci	10.71	13.06	14.51	16.86	19.21	20.66	23.01

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):	60.63
MACD (12,26,9):	0.2300
Directional Movement:	23.92
AROON (14):	35.71
DEMA (21):	16.88
Parabolic SAR (0,02-0,02-0,2):	16.09
Elder Ray (13):	0.28
Super Trend (3,10):	16.17
Zig ZAG (10):	16.90
VORTEX (21):	1.0600
Stochastique (14,3,5):	61.00
TEMA (21):	16.87
Williams %R (14):	-33.33
Chande Momentum Oscillator (20):	0.90
Repulse (5,40,3):	-0.8000
ROCnROLL:	1
TRIX (15,9):	0.2000
Courbe Coppock:	7.08

MA7:	16.34
MA20:	15.86
MA50:	18.09
MA100:	20.64
MAexp7:	16.81
MAexp20:	16.57
MAexp50:	16.15
MAexp100:	16.07
Price / MA7:	+3.92%
Price / MA20:	+7.06%
Price / MA50:	-6.14%
Price / MA100:	-17.73%
Price / MAexp7:	+1.01%
Price / MAexp20:	+2.47%
Price / MAexp50:	+5.14%
Price / MAexp100:	+5.66%

Quotes : - 15 min delayed data - Actions NASDAQ

News

The last news published on CANADIAN SOLAR INC. at the time of the generation of this analysis was as follows: