SEDG - for the long-term, with a short term analysis
I haven't purchased this stock yet because my portfolio already has a few energy stocks in it, but this is a high performer in its sector and will reconsidering overloading in that sector, keep for long-term. Portfolio management, right? The price is a good opportunity as it's undervalued.
Couple things to note on the chart:
- there's a gap to fill and the stock looks to be trying to correct this
- the lower Bollinger band has already been pierced and the stock is following those rules, supported by a rising RSI (currently at 48). I look for rising RSI in the ranges between 40-50, to get in before it's overbought
- after the pierce, we have two hollow candles (upward trend)
- but caution on the volume. SEDG normally trades 1m average but I'm suspecting this where the sellers are exhausted and accumulation is starting over.
- stock is now at a former point of strong resistance. Bust through that and it's on to the longer-term trend (wedge)
Couple things to note on the chart:
- there's a gap to fill and the stock looks to be trying to correct this
- the lower Bollinger band has already been pierced and the stock is following those rules, supported by a rising RSI (currently at 48). I look for rising RSI in the ranges between 40-50, to get in before it's overbought
- after the pierce, we have two hollow candles (upward trend)
- but caution on the volume. SEDG normally trades 1m average but I'm suspecting this where the sellers are exhausted and accumulation is starting over.
- stock is now at a former point of strong resistance. Bust through that and it's on to the longer-term trend (wedge)
Comment:
I was able to get in at 139.25 (probably could've gotten 136, but I didn't want to miss the run).