Yingli Green Energy - Traders Waiting for Entry
Published on Monday, 21 January 2013 04:33 Written by TradersHuddle Wire
New York, January 21st (TradersHuddle.com) - Shares of Yingli Green Energy Holding Co. Ltd. (NYSE:YGE) closed the trading day lower by $0.09 or -3.21% from its previous close. Yingli Green's price action formed what is considered to be a doji close, where the open and close prices are very close to each other, mainly signaling an indecision between buyers and sellers.
Yingli Green Energy Holding Co. Ltd. (NYSE:YGE) designs, manufactures and sells Photovoltaic (PV) modules in China and internationally. The Company also designs, assembles, sells and installs PV systems that are connected to an electricity transmission grid or those that operate on a stand-alone basis.
Yingli Green's trading range is defined by a trough, which marked calculated support at $2.15 and by a peak that set the resistance point at $3.12. These levels are closely watched by traders managing their positions.
Traders wanting to establish a position in Yingli Green Energy or traders that are already holding the stock can use the doji close to their advantage, since the pattern present a short-term pause in the stock's price action. This pause results in an entry point for traders depending of which way the stock resolves this short-term indecision.
The Doji is an important candlestick pattern that provides information on their own and as components in a number of important patterns. Doji form when a security's open and close are virtually equal. The length of the upper and lower shadows can vary and the resulting candlestick looks like a cross, inverted cross or plus sign. Alone, doji are neutral patterns.
Any bullish or bearish bias is based on preceding price action and future confirmation. In the case of Yingli Green Energy, given that the stock finished the session lower, bears should monitor the stock, as it could reverse if it manages to trade above its intraday high. Below a Doji illustration:
- Yingli Green Energy to Supply 10.269 MW Modules for the Largest Single Site PV Power Plant in Malaysia
- Yingli Green Energy Announces Preliminary Financial Results for First Quarter 2013
- Yingli Green Energy to Supply 220 MW PV Modules for China Power Investment Corporation
- Yingli Green Energy Files Its Annual Report on Form 20-F
- Yingli Green Energy Signs US$165 Million Loan Agreements with China Development Bank
- Yingli Green Energy Achieves Outstanding Performance in PHOTON Module Yield Test 2012
- Yingli Green Energy and GRID Alternatives Renew Long-Standing Partnership
- Yingli Green Energy Reports Fourth Quarter and Full Year 2012 Results
- Yingli Green Energy Announces Preliminary Financial Results for Fourth Quarter and Full Year 2012
- Yingli Green Energy Joins Hands Once Again with FC Bayern Munchen and the Chinese Football Association
Related Partner Headlines
- Yingli Green Energy Comments on Final International Trade Commission Rulings for Imported Chinese Solar Cells and Modules - Benzinga
- Yingli Green Energy to Supply Solar Plant in Singapore - Benzinga
- Yingli Green Energy Announces Regional Headquarters in Switzerland - Benzinga
- Yingli Green Energy Announces PV Module Deal for Largest Solar Plant in Latin America - Benzinga
- Yingli Green Energy Responds to Solyndra Antitrust Litigation - Benzinga
- Yingli Green Energy Responds to US Department of Commerce's Decision on Tariffs for Chinese Solar Cells - Benzinga
- Yingli Green Energy Partners in Australia with Solar 360 - Benzinga
- UPDATE: Mirae Asset Lowers PT to $2.85 on Yingli Green Energy on Polysilicon Cost Concerns - Benzinga
- UPDATE: CICC Downgrades Yingli Green Energy; Lowers PT - Benzinga
- UPDATE: Yingli Green Swings To Q1 Loss - Benzinga
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