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rbswingtrader
Nov 5, 2021 4:45 PM

Change in direction/count Short

SolarEdge Technologies, Inc.NASDAQ

Description

I have been posting about SEDG since it was $260 and this week i closed all my positions at $370. Though my previous charts shows a much higher target for this stock but i think i was missing that the last wave which got us to the current price doesn't really fit well into an impulsive structure. Hence, recounting it is making me believe that this was just one rebound of the overall correction and we have one more leg down coming to make it a 3-3-5 ( FLAT correction ). Short term i will be bearish on this stock with the Target back to $220 with the SL of $375. I think that's a great RR on this trade.
Comments
neatfreak301
Do you think we need it to get to 374 to be sure it completed wave 2 and ready to be shorted or now it's good time? Thanks Rbswingtrader
wardaK
Thanks! Are you buying puts or selling shares?
rbswingtrader
@wardaK, Will do puts on this. Will see Monday or wait for the 1 and 2 to complete to be sure. SL is tight on this so not much expected losses
wardaK
@rbswingtrader, Got you. Have a great weekend.
rbswingtrader
@wardaK, thnaks , you too man.
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