CANADIAN SOLAR INC (CSIQ) Stock Technical Analysis
NASDAQ:CSIQ - Nasdaq - CA1366351098 - Common Stock - Currency: USD
Taking everything into account, CSIQ scores 3 out of 10 in our technical rating. In the past year, CSIQ was a below average performing stock in the market. The medium term picture is also negative, but we see some improvement happening in recent action.
The short term trend is neutral, while the long term trend is still negative. We need to see a little more continued positive action to make this really interesting.
85% of all other stocks performed better in the past year than CSIQ.
CSIQ is one of the lesser performing stocks in the Semiconductors & Semiconductor Equipment industry. 61% of 110 stocks in the same industry do better.
CSIQ is currently trading in the lower part of its 52 week range. The S&P500 Index however is trading in the upper part of its 52 week range, so CSIQ is lagging the market.
CSIQ has an average volume of 2248310 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
In the last month CSIQ has a been trading in the 8.84 - 11.60 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.
Considerably lower volume is observed in the last couple of days.
Although the technical rating is bad, CSIQ does present a nice setup opportunity. Prices have been consolidating lately and the volatility has been reduced. There is a support zone below the current price at 9.92, a Stop Loss order could be placed below this zone. We notice that large players showed an interest for CSIQ in the last couple of days, which is a good sign.
- Behavior of large players is measured by the Effective Volume indicator. This indicator inspects the 1 minute timeframe looking for high volume transactions.
More info and screens
9.69
11.27
When analyzing the support we notice one important area.
- A support zone ranging from 9.79 to 9.92. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
2 important resistance areas can be observed.
- A resistance zone ranging from 10.72 to 10.74. This zone is formed by a combination of multiple trend lines in multiple time frames.
- A resistance zone ranging from 11.15 to 11.16. This zone is formed by a combination of multiple trend lines in multiple time frames.
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 | DOWN | NEGATIVE | The long term trend for CSIQ is down. |
| ChartMill Short Term Trend Indicator | NEUTRAL | NEUTRAL | The short term trend for CSIQ is neutral. |
| ChartMill Relative Strength | 15.6 | NEGATIVE | CSIQ has a low relative strength, it was outperformed by 84.4% 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) | DOWN | NEGATIVE | The current price of CSIQ is below a declining SMA(200). |
| Relative Strength Index/RSI (14) | 54.06 | NEUTRAL | The RSI value for CSIQ is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.05 | NEGATIVE | The MACD value suggests CSIQ has a negative trend. |
| Stochastics (14,3) | 41.4 | NEUTRAL | The Stochastics value for CSIQ is a neutral value. |
| Average True Range in percent/ATR (20) | 6.97 | HIGH VOLATILITY | The high ATR as a percentage value for CSIQ suggests high volalility. |
| Average Directional Index/ADX (14) | 34.26 | POSITIVE | The high ADX value value for CSIQ suggests a strong trend. |
Daily CandleStick Patterns
Bullish Engulfing (D)
Bullish Hammer (D)
Bearish Inverted Hammer (D)
Hanging Man (D)
Bullish Harami (D)
Doji (D)
Gravestone Doji (D)
DragonFly Doji (D)
Bearish Engulfing (D)
Bearish Shooting Star (D)
Bearish Harami (D)
Inside Bar (D)
Red Dog Reversal Down (D)
Red Dog Reversal Up (D)
Dark Cloud Cover (D)
Weekly CandleStick Patterns
Bullish Engulfing (W)
Bullish Hammer (W)
Bearish Inverted Hammer (W)
Hanging Man (W)
Bullish Harami (W)
Doji (W)
Gravestone Doji (W)
DragonFly Doji (W)
Bearish Engulfing (W)
Bearish Shooting Star (W)
Bearish Harami (W)
Inside Bar (W)
Dark Cloud Cover (W)
Daily Chart Patterns
Bull Flag
Bear Flag
Ascending Triangle (D)
Descending Triangle (D)
Symmetrical Triangle (D)
Squeeze
Channel (D)
Channel Up (D)
Channel Down (D)
Rising Wedge (D)
Falling Wedge (D)
Double Bottom (D)
Multiple Bottom (D)
Double Top (D)
Multiple Top (D)
Weekly Chart Patterns
Weekly Bull Flag
Weekly Bear Flag
Squeeze Week
Channel (W)
Double Bottom (W)
Multiple Bottom (W)
Double Top (W)
Multiple Top (W)
10.16
+0.13 (+1.3%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorInformation Technology
GICS IndustrySemiconductors & Semiconductor Equipment
Performance
% Chg1.3%
1 Week-7.04%
2 Weeks0.1%
1 Month5.28%
3 Month1.09%
6 Month-18.13%
12 Month-48.27%
2 Year-75.69%
3 Year-68.31%
5 Year-45.96%
10 Year-68.89%
15 Year-21.54%
Volatility
ATR(14)0.8
ATR(20)%6.97%
ATR Inc-32.49%
Range Today0.53
ADR(20)0.64
ADR(20)%6.33%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS15.6
Mansfield-2.05
10 Day High11.6
10 Day Low9.53
20 Day High11.6
20 Day Low8.84
52 Week High21.05
52 Week Low6.57
CS1 End9.92
CR1 Start10.72
Volume & EV
DER(3)4.25%
DER(5)2.66%
Volume1.12M
Volume Incr-52.49%
Vol(5)1.17M
Vol(50)2.25M