Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Canadian Solar Inc shares valued at $45,608 were purchased by Wong Andrew Luen Cheung on Sep 11 ’24. At $12.37 per share, Wong Andrew Luen Cheung acquired 3,687 shares.
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As published in a research note from Citigroup on October 22, 2024, Canadian Solar Inc [CSIQ] has been rated down from a Neutral to a Sell and the price target has been revised to $11 from $19. Analysts at Oppenheimer resumed the stock at ‘”an Outperform”‘ outlook in a report released in late August. As of March 11, 2024, Daiwa Securities has initiated its “Neutral” rating for CSIQ. Earlier on December 18, 2023, Goldman upgraded its rating. Their new recommendation was “a Neutral” for CSIQ stock which previously was a “a Sell”.
Analyzing CSIQ Stock Performance
During the last five days, there has been a drop of approximately -10.36%. Over the course of the year, Canadian Solar Inc shares have dropped approximately -55.13%. Shares of the company reached a 52-week high of $26.58 on 01/02/24 and a 52-week low of $11.37 on 11/14/24. A 50-day SMA is recorded $13.94, while a 200-day SMA reached $16.46. Nevertheless, trading volume fell to 3.07 million shares from 2.55 million shares the previous day.
Support And Resistance Levels for Canadian Solar Inc (CSIQ)
According to the 24-hour chart, there is a support level at 11.41, which, if violated, would cause prices to drop to 11.05. In the upper region, resistance lies at 12.10. The next price resistance is at 12.42. RSI (Relative Strength Index) is 40.47 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.79, which suggests the price will decrease in the coming days. Percent R is at 91.97%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
