CSIQ Technical Analysis - CANADIAN SOLAR INC

Technical Rating and Analysis

We assign a technical rating of 7 out of 10 to CSIQ. This is due to a decent performance in both the short and longer term time frames. Compared to the overall market however, CSIQ is a bad performer.

79% of all other stocks performed better in the past year than CSIQ.

CSIQ is part of the Semiconductors & Semiconductor Equipment industry. There are 112 other stocks in this industry, of which 70% are performing better than CSIQ.

Both the short term and long term trends are positive. This is a very positive sign.

In the last month CSIQ has a been trading in the 9.69 - 13.55 range, which is quite wide. It is currently trading near the high of this range.

CSIQ has an average volume of 1491820 traded shares per day. This is a good sign as it is always nice to have a liquid stock.

CSIQ is currently trading in the middle of its 52 week range. The S&P500 Index however is currently trading near new highs, so CSIQ is lagging the market.

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Technical Analysis

Relative Strength

ChartMill Trend Indicator

Simple Moving Average

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Weekly and Daily overview Charts

CANADIAN SOLAR INC / CSIQ Weekly stock chart

CANADIAN SOLAR INC / CSIQ Daily stock chart

Setup Rating and Analysis

Although CSIQ has an excellent technical rating, it does not offer a high quality setup at the moment. Price movement has been a little bit too volatile to find a nice entry and exit point. It is probably a good idea to wait for a consolidation first.

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ChartMill Technical Ratings

Pocket Pivots

Bull Flags

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Support and Resistance Analysis

9.56

15.04

We found 6 important support areas.

A support zone ranging from 13.26 to 13.46. This zone is formed by a combination of multiple trend lines in the daily time frame.
A support zone ranging from 13.03 to 13.05. This zone is formed by a combination of multiple trend lines in the weekly time frame.
A support zone ranging from 11.69 to 11.77. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
Support @10.37 from a trend line in the weekly time frame.
Support @10.13 from a trend line in the daily time frame.
A support zone ranging from 9.66 to 9.80. This zone is formed by a combination of multiple trend lines in the daily time frame.

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Technical Indicator Signal Analysis

The Technical Rating and Setup analysis above combine different indicators and trends in different timeframes. Individual signals from indicators may give more contradictive signals and should always be interpreted in the more global context.

Indicator	Value	Signal	Comment
ChartMill Long Term Trend Indicator	UP	POSITIVE	The long term trend for CSIQ is up.
ChartMill Short Term Trend Indicator	UP	POSITIVE	The short term trend for CSIQ is up.
ChartMill Relative Strength	21.95	NEGATIVE	CSIQ has a low relative strength, it was outperformed by 78.05% off all stocks on the market.
Simple Moving Average/SMA (20)	UP	POSITIVE	The current price of CSIQ is above the rising SMA(20).
Simple Moving Average/SMA (50)	UP	POSITIVE	The current price of CSIQ is above the rising SMA(50).
Simple Moving Average/SMA (200)	UP	POSITIVE	The current price of CSIQ is above the rising SMA(200).
Relative Strength Index/RSI (14)	60.84	NEUTRAL	The RSI value for CSIQ is a neutral value.
Moving Average Convergence Divergence/MACD (12, 26, 9)	0.18	POSITIVE	The MACD value suggests CSIQ has a positive trend, although the MACD value is declining.
Stochastics (14,3)	80.49	OVERBOUGHT	The high Stochastics value suggests CSIQ may be overbought.
Average True Range in percent/ATR (20)	5.79	HIGH VOLATILITY	The high ATR as a percentage value for CSIQ suggests high volalility.
Average Directional Index/ADX (14)	20.93	NEUTRAL	The ADX value for CSIQ suggests a possible start of a new trend.