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JKS) is a solar power product manufacturer. This stock closed up 3.6% to $14.21 in Wednesday's trading session.
Wednesday's Volume: 2.86 million
Three-Month Average Volume: 745,439
Volume % Change: 311%
Shares of JKS jumped higher on Wednesday after the company said shipments of solar modules rose 44.5% from the first quarter to 489.2 MW, and revenue jumped 51.7% to $287.6 million.
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From a technical perspective, JKS trended up here with heavy upside volume. This stock has been uptrending strong for the last four months, with shares soaring higher from its low of $3.96 to its intraday high of $15.62. During that uptrend, shares of JKS have been making mostly higher lows and higher highs, which is bullish technical price action. That move briefly pushed shares of JKS into breakout and new 52-week-high territory, since the stock hit an intraday high of $15.62.
Traders should now look for long-biased trades in JKS as long as it's trending above some near-term support at $13.50 or at $13 and then once it sustains a move or close above Wednesday's high of $15.62 with volume that hits near or above 745,439 shares. If we get that move soon, then JKS will set up to enter new 52-week-high territory, which is bullish technical price action. Some possible upside targets off that breakout are $17.50 to $20.
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