Traders who take positions in Penny Stocks are sure to check in on ReneSola Ltd. ( NYSE:SOL), as the stock has found its way onto the most active list today, moving -0.84% and reaching $1.18 on a recent trade.
Though it’s shown well today, how has ReneSola Ltd. ( NYSE:SOL) been performing recently? Let’s take a look. Over the past twelve months, ReneSola Ltd.’s stock was -30.00%. Over the last seven days, it was -0.83%, -5.56% over the last three months, and -5.56% for the past six months.
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Over the past 50 days, ReneSola Ltd. stock was -16.90% off of the high and 5.36% removed from the low. Their 52-Week High and Low are noted here. -39.49% (High), 29.67%, (Low).
ReneSola Ltd.’s performance this year to date is -30.00%. The stock has performed -0.83% over the last seven days, -4.80% over the last thirty, and -5.56% over the last three months. Over the last six months, ReneSola Ltd.’s stock has been -5.56% and -8.46% for the year.
The simple moving average is the most common method used to calculate the moving average of prices. It takes the sum of all of the past closing prices over a specific time period and divides the result by the number of prices used in the calculation. Increasing the number of time periods in the calculation is an effective way to ascertain the strength of the long-term trend and/or the likelihood that it might reverse. Some argue that this type of average is not necessarily useful because each data point in the series has the exact same impact on the result no matter where it occurs in the sequence. ReneSola Ltd. (NYSE:SOL)’s 20-Day Simple Moving Average is -3.44%. Extending back, their 50-Day Simple Moving Average is -5.37%, looking even further back, their 200-Day Simple Moving Average stands at -14.29%.
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Like any other stock, penny stocks are traded based on the laws of supply and demand, meaning that the price rises when there are more buyers than sellers, and when the sellers outnumber the buyers, the stock will decline in price. Penny stocks differ from so-called “traditional” stocks because they can trade extremely rapidly when sudden buying or selling pressure hits. Penny stocks are also subject to quite a bit of dilution by company insiders, causing a substantial drop in price, causing not insignificant losses for traders holding the shares. Because of the threat of large losses, it’s important to protect a penny stock trading account by having a solid penny stock trading strategy in place.
What makes penny stocks so enticing to traders is the possibility to make huge gains quickly, sometimes in as little as a few hours in a trading day. Penny stocks can increase by price by hundreds, or even thousands of percent in a matter of hours. Be sure to sign up to our newsletter to make sure you don’t miss out on our next huge winner!
Disclaimer: The views, opinions, and information expressed in this article are those of the authors and do not necessarily reflect the official policy or position of any company stakeholders, financial professionals, or analysts. Examples of analysis performed within this article are only examples. They should not be utilized to make stock portfolio or financial decisions as they are based only on limited and open source information. Assumptions made within the analysis are not reflective of the position of any analysts or financial professionals.