JA Solar Holdings (NASDAQ:JASO)
Q: Good evening . Hope all is well with you today. When do you think JASO will start to rise?
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.