JinkoSolar secures contract and launches NeoGreen solar modules

BATS:JKS   JinkoSolar Holding Company Limited
JinkoSolar Holding Co., Ltd. has recently announced the launch of its NeoGreen solar modules, coupled with a significant contract for its Tiger Neo modules, bolstering its position as a leader in the solar panel technology market. The unveiling occurred at the KEY Exhibition 2024 in Italy, where JinkoSolar showcased the first mass-produced NeoGreen modules, distinguished by their minimal environmental impact. These modules are produced using 100% renewable electricity, with additional environmental protection measures such as water purification used in manufacturing. Furthermore, JinkoSolar has plans to reduce plastic usage in packaging and transition to more eco-friendly transport options, like electric cargo transport and liquefied natural gas ships, representing a significant competitive edge in sustainable production.

Exploring potential trading opportunities, let's analyse the technical aspects of JinkoSolar Holding Co., Ltd. (NYSE: JKS):

In the Daily (D1) timeframe, a support level has been established at 21.05 USD, with resistance at 25.60 USD. The stock is currently experiencing a downtrend, albeit with signs of slowing. A break above the downtrend's resistance line could further confirm a positive shift. If the stock breaches the support level, a decline to 18.60 USD might be expected.

Breaking the resistance at 25.60 USD offers traders a viable buying opportunity, with a short-term target of 30.10 USD. For a medium-term strategy, maintaining a long position with a target of up to 38.30 USD could be considerable.

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