Analisi dari Aastocks.com
$XINTE ENERGY(01799.HK$ Photovoltaic stocks were widely sold off, especially as New Special Energy (01799.HK) share price fell three consecutive times and failed to bear the bull line ($18.94) to near a four-month low of $18.1 million on the market, down 12 percent, and trading rose to 1,021 million shares. Recently beaten peer Xixin Technology (03800.HK) also fell 7 percent today to hit $2.3 million, hitting a four-month low of 9,096 million shares, close to yesterday's all-time high of 9,482 million shares. Xixin New Energy (00451.HK) and Kamdank Solar (00712.HK) fell 3.2% and 6.8%, respectively, yielding 6.1 cents and 20.4 cents, the former hitting new lows on the market and the latter hitting near two-year lows. The Silicon Industry Association of China Nonferrous Metals Industry Association said on 8th of this month that, influenced by multiple factors, continued price shocks in parts of the supply chain, impacting the stable operation of the silicon photovoltaic industry. In order to avoid being over-interpreted and misinterpreted, Anteco's purchase price announcement was decided to suspend the purchase price announcement. The data has been released every three weeks since 2014 and has had some impact in the industry. Prior to that, polysilicon prices had risen for twenty-nine consecutive weeks in a year, hitting a 10-year high with no visible signs of a pullback. At present, the price of photovoltaic raw materials - polysilicon in the Mainland has exceeded the RMB 30,000 per tonne mark, while the new energy battery raw material - lithium carbonate, is at RMB 50,000 per tonne again in five months. Faced with rising raw material prices, photovoltaic component companies are locking in supplies ahead of time and issuing large procurement contracts. Hang pointed to a decline of more than 2% in the sector and the industrial sector index fell 1.6 per cent, beating yesterday's half-decade low of 17,965, the lowest of 17,952, and 17,988, a further drop of 159 points or nearly 0.9 per cent, with a total turnover of just $407 billion. (sz/t) ~ ASDAC Financial News Website: www.aastocks.com
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Make it BigOP : From the analysis. The relevant publishing organization in China has decided to halt the publishing of purchasing price data to avoid the wrong interpretation to the trend of purchasing price of polysilicon and other raw materials that sees a 29 weeks increase already. The move is an effort to stabilise the price of materials relating to solar energy and lithium as well.
102643570 : So can buy now , or wait
Pls advise
Make it BigOP 102643570: personal opinion is don't buy now based on technicalities. the nearly 13% drop crossed all the short and long moving averages ie. 5MA. 10MA. 20MA and 60MA. The KDJ is approaching 20 level but not there yet ie. oversold level. MACD also shows a down trend. From a news perspective, I don't get to see a lots of transparency in the news published for this company. The AAstock analysis simply shows a lack of future disclosure for price data. I am not sure if the sellers or shorters sees this as a risk that the Chinese regulator is stepping in to control prices. Hence, restricting the margin of Xinte and the fall of stock price by nearly 13%. I will use the technicals stated above to tell me when to buy. For instance, if the candle stick is above 5 MA and MACD starts to cross above the centre line. I will buy and hold or monitor over short period of time. eg 5 days. if the price fall below my purchase price. cut loss. if it can go up above 10MA. hold and monitor for drop below 5 MA.