What will you wait for? Can you elaborate on what you will do? Do you want to buy $25 and short at $31? It looks like it is back to where it reported earnings last quarter, so I would view this price level as MASSIVE support. I don't follow the stock, but this strikes me as a VERY interesting level for this stock.
I looked at the SUNE a little closer and this is what I saw. I'd like the volume to slow down to get in, but I like what I see here. The next thing I would check is news to see what drove the price down.
I also believe $25 is support, and am looking for a bounce/ confirmation of a bottom in order to go long. SPWR another solar is also on my radar.
As for why they fell, the only reason and correlation I can find is oil prices dropping. If oil is in for a rebound so are solar stocks.
Target of $31 possible after a bottom is created, but I think this will be a slow rise up.. After viewing the reaction to earnings I will have more clues in order to determine velocity of the upside target.