Let's examine the technical analysis of these stocks to identify any buy signals or patterns:
- Applied Materials (AMAT): When the Relative Strength Index (RSI) of AMAT reached 30, the 3-Day win rate was 71.43%, the 10-Day win rate was 64.29%, and the 30-Day win rate was 35.71%. This suggests that buying AMAT when the RSI is 30 has a higher probability of short-term gains, with a maximum return of 4.60% over 30 days However, the overall performance over 30 days shows a slight negative return of -0.91%, indicating that while there is potential for gains, there may also be some risk to consider
- JinkoSolar Holding (JKS): JKS has an RSI of 73.84, which is close to the oversold threshold of 30. While there is no specific buy signal based on RSI, the backtest data for AMAT suggests that stocks near the oversold territory can be bought with a higher chance of short-term gains. However, the maximum return over 30 days was only 3.16%, indicating a more modest potential for gains compared to AMAT
- Sunrun (RUN): RUN has an RSI of 69.53, which is also near the oversold territory. The backtest data does not provide a specific win rate for RUN, but the 10.51% increase in its stock price suggests that it may have some potential for short-term gains. The maximum return over 30 days was 26%, which is the highest among the three stocks, indicating that RUN could be a strong rebound play if bought near the oversold territory
In conclusion, while there is no explicit buy signal for JKS and RUN based on RSI, the backtest data for AMAT suggests that buying stocks near the oversold territory can be a viable strategy with a higher chance of short-term gains. However, investors should also consider the potential risks and the overall market conditions before making investment decisions.