JA Solar Holdings (NASDAQ:JASO)

Q: Good evening . Hope all is well with you today.  When do you think JASO will start to rise?

-Thank you

A: Thanks for the email.  We just recently issued a Downtrend on JASO on June 23 at $4.33.  After which it bounced off its 50-day moving average for a few days and then started to decline.  Just yesterday it broke below that moving average which is now an important level to watch ($4.31).  There is a positive trendline starting in early March that is right at the $3.50 level which is going to be very important.  If it can hold, then it may consolidate for a bit before waiting for the rest of the market to turn around (there is some rotation right now into defensive sectors).  But should it fall below that line on a closing basis then it will have made a lower low which could mean lower prices.