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JKS) is a solar power product manufacturer. This stock closed up 5% to $14.54 in Wednesday's trading session.
Wednesday's Volume: 1.47 million
Three-Month Average Volume: 771,384
Volume % Change: 109%
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From a technical perspective, JKS ripped higher here right above some near-term support at $13 with strong upside volume. This stock has been uptrending strong for the last four months and change, with shares moving higher from its low of $3.96 to its recent high of $15.62. During that move, shares of JKS have been consistently making higher lows and higher highs, which is bullish technical price action. That move has now pushed shares of JKS within range of triggering a near-term breakout trade. That trade will hit if JKS can manage to take out its 52-week high at $15.62 with high volume.
Traders should now look for long-biased trades in JKS as long as it's trending above some key support levels at $13 or above $12.69, and then once it sustains a move or close above its 52-week high at $15.62 with volume that hits near or above 771,384 shares. If that breakout triggers soon, then JKS will set up to re-test or possibly take out its next major overhead resistance levels at $20 to $22.
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