Chart Source: Poemsview 1st june 2021
Xinyi Solar (968.HK) s a leading global solar glass manufacturer. Its strengths are in the R&D, manufacturing automation, process optimization, technical sales support and after-sales services of solar glass products. It has made substantial investments in solar farm project development.
It has corrected about 60% from the high of HKD$24.80 to a low of $9.90. If you believe in clean energy being the future then this might be a stock that you might want it to be in your portfolio. Also with the recent drop in price, it is more price friendly as HK stocks require a minimum number of shares to buy in.
As of now Xinyi Solar is currently at the downtrend line resistance. If it manages to break above that resistance we might see more upside to around $15.60 then $16.9.
Our support is $12.75 and $11.80. Scaling in by batches is what we advocate. All investment carries risk , so do ensure you have a proper trade plan in place before investing.