PPR - JinkoSolar (JKS) Possible Pocket Pivot here at 10:55 a.m. PST

Published : October 27 2010 at 13:59 ET

We note with interest that JinkSolar (JKS) is flashing what looks like it may become a pocket pivot buy point today as it moves above the 10-day moving average on volume that needs about 100,000, maybe a little less currently at 10:55 a.m. Pacific Time, in order to exceed the down-volume day of four days ago on the chart, below, which would be a valid pocket pivot volume signature. Today's action in JKS is even more interesting given that they announced a 3.5 million share secondary offering today, which as far as we know has yet to be priced. This might be buyable here, as it seems to indicate such an offering would be well-subscribed.

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