Price Action Report: What’s Next for Hanwha Q Cells Co Ltd -ADR After Reaching 52 Week Low?

Price Action Report: What's Next for Hanwha Q Cells Co Ltd  ADR After Reaching 52 Week Low?

The stock of Hanwha Q Cells Co Ltd -ADR (NASDAQ:HQCL) hit a new 52-week low and has $8.60 target or 5.00% below today’s $9.05 share price. The 5 months bearish chart indicates high risk for the $771.61 million company. The 1-year low was reported on Nov, 22 by Barchart.com. If the $8.60 price target is reached, the company will be worth $38.58M less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. About 39,128 shares traded hands or 22.53% up from the average. Hanwha Q Cells Co Ltd -ADR (NASDAQ:HQCL) has declined 34.75% since April 20, 2016 and is downtrending. It has underperformed by 39.30% the S&P500.

According to Zacks Investment Research, “Hanwha Q CELLS Co., Ltd. is a photovoltaic manufacturer for solar cells and modules. The company offers the full spectrum of photovoltaic products, applications and solutions, from modules to kits to systems to large scale solar power plants. It operates primarily in Europe, North America, Asia, South America, Africa and the Middle East. Hanwha Q CELLS Co. Ltd., formerly known as Hanwha SolarOne Co. Ltd., is headquartered in Seoul, South Korea.”

HQCL Company Profile

Hanwha Q CELLS Co., Ltd., formerly Hanwha SolarOne Co., Ltd., incorporated on June 12, 2006, is a global solar energy company, which is involved in manufacturing of solar modules, and development and management of downstream solar farms. The Firm makes a range of photo voltaic (PV) cells and PV modules at its manufacturing facilities in China and Malaysia using manufacturing process technologies, including those developed at its research and development facilities in Germany. The Firm also engages in PV downstream businesses, which include developing solar power projects and providing engineering, procurement and construction services, and operation and management services. The Firm develops and manufactures solar power projects incorporating its PV modules to sells them to third-party purchasers upon completion.

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