Daqo New Energy's 15min chart sees MACD and KDJ Death Crosses.

Daqo New Energy's 15-minute chart has recently exhibited a MACD Death Cross and KDJ Death Cross, both of which occurred on August 28, 2023, at 13:00. This suggests that the stock price may be poised to continue its downward trajectory, as the momentum of the stock price is shifting towards the downside and may lead to further decreases.

Daqo New Energy (NYSE: DQ) has recently exhibited significant technical indicators on its 15-minute chart, which could signal further downward pressure on the stock price. The chart displayed a MACD Death Cross and a KDJ Death Cross on August 28, 2023, at 13:00. These indicators suggest a shift in momentum towards the downside, potentially leading to further decreases in the stock price [1].

The MACD (Moving Average Convergence Divergence) Death Cross occurs when the MACD line crosses below the signal line, indicating a bearish signal. The KDJ (Kaufman Adaptive Moving Average) Death Cross, a crossover of the K line and the D line on the KDJ indicator, also signals a potential change in trend towards the downside. This combination of indicators suggests a reduction in the magnitude of stock price fluctuations and a shift in momentum towards the downside [2].

Historically, Daqo New Energy has shown resilience in meeting analyst expectations. Over the last two years, the company has beaten EPS estimates 50% of the time and revenue estimates 63% of the time. This track record indicates a consistent ability to meet or exceed financial targets [3].

Institutional investors have shown significant activity in Daqo New Energy's stock. According to Quiver Quantitative, 45 institutional investors added shares to their portfolios, while 89 decreased their positions in the most recent quarter. Notably, major institutions like Goldman Sachs Group Inc., Morgan Stanley, and SG Americas Securities have made substantial adjustments to their holdings [3].

Analysts have issued a mix of ratings for Daqo New Energy. While no sell ratings have been issued, only one firm has issued a buy rating in the last several months. Price targets from analysts range from $27.0 to $30.51, with a median target of $28.755. However, GuruFocus estimates a potential downside, with a one-year GF Value of $11.65, indicating a 51.5% decline from the current trading price [3].

Investors should closely monitor Daqo New Energy's earnings report for insights into the company's operational performance and future prospects. The earnings release will provide a clearer picture of the company's financial health and strategic direction [3].

References:
[1] https://www.ainvest.com/news/daqo-energy-q2-earnings-preview-revenue-estimate-140-54m-2508/
[2] https://www.ainvest.com/news/cleancore-solutions-15min-chart-sees-bollinger-bands-narrowing-kdj-death-cross-2508/
[3] https://www.ainvest.com/news/navigating-solar-polysilicon-downturn-daqo-energy-strategic-resilience-cyclical-industry-2508/