CANADIAN SOLAR INC (CSIQ) Stock Technical Analysis
NASDAQ:CSIQ • CA1366351098
Taking everything into account, CSIQ scores 4 out of 10 in our technical rating. CSIQ was one of the better performers in the overall market, it is still ok in the medium term time frame, but very the very recent evolution is negative.
- The long term trend is positive and the short term trend is neutral. The long term trend may just continue or reversal may be around the corner!
- In the last month CSIQ has a been trading in the 18.55 - 23.00 range, which is quite wide. It is currently trading in the middle of this range where prices have been consolidating recently, this may present a good entry opportunity, but some resistance may be present above.
- CSIQ has an average volume of 3279370 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
- When comparing the yearly performance of all stocks, we notice that CSIQ is one of the better performing stocks in the market, outperforming 88% of all stocks. However, this overall performance is mostly based on the strong move around 4 months ago.
- CSIQ is part of the Semiconductors & Semiconductor Equipment industry. There are 114 other stocks in this industry, CSIQ did better than 50% of them.
- 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.
- Considerably lower volume is observed in the last couple of days.
Although the technical rating is only medium, CSIQ does present a nice setup opportunity. Prices have been consolidating lately. 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
12.72
When analyzing the support we can see 3 important areas.
- Support @19.55 from a trend line in the daily time frame.
- A support zone ranging from 18.98 to 19.12. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Support @12.85 from a trend line in the weekly time frame.
When analyzing the resistance we notice one important area.
- Resistance @22.43 from a horizontal line in the daily time frame.
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 | NEUTRAL | NEUTRAL | The short term trend for CSIQ is neutral. |
| ChartMill Relative Strength | 88.02 | POSITIVE | CSIQ has a high relative strength, it outperformed 88.02% off all stocks on the market. |
| Simple Moving Average/SMA (20) | DOWN | MIXED | The current price of CSIQ is above a declining SMA(20). |
| Simple Moving Average/SMA (50) | DOWN | NEGATIVE | The current price of CSIQ is below a declining 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) | 47.79 | NEUTRAL | The RSI value for CSIQ is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.17 | POSITIVE | The MACD value suggests CSIQ has a positive trend, although the MACD value is declining. |
| Stochastics (14,3) | 56.89 | NEUTRAL | The Stochastics value for CSIQ is a neutral value. |
| Average True Range in percent/ATR (20) | 7.17 | HIGH VOLATILITY | The high ATR as a percentage value for CSIQ suggests high volalility. |
| Average Directional Index/ADX (14) | 9.16 | NEGATIVE | The low ADX value for CSIQ suggests a weak or negative trend. |
20.27
-1.1 (-5.15%)
CANADIAN SOLAR INC / CSIQ FAQ
Can you provide the ChartMill technical rating for CANADIAN SOLAR INC?
ChartMill assigns a technical rating of 4 / 10 to CSIQ.
What is the current trend direction of CANADIAN SOLAR INC (CSIQ) stock?
The current trend direction for CANADIAN SOLAR INC (CSIQ) is Bullish.
What is the RSI signal for CSIQ stock?
CANADIAN SOLAR INC (CSIQ) has an RSI value of 47.7944. This indicates that the stock is currently neutral.
Can you provide the short term momentum for CANADIAN SOLAR INC?
The short term momentum for CANADIAN SOLAR INC (CSIQ) is neutral.
What is the support and resistance level for CSIQ stock?
CANADIAN SOLAR INC (CSIQ) has a support level at 19.55 and a resistance level at 22.43. Check the full technical report for our detailed analysis of CSIQ support and resistance levels.