We are still falling but the Donchian Channel has turned already and the MAs are beginning to hint for a light oversold condition already. As we have fallen so deeply for over a year now the risk for further deep declines are smaller now.
1) I drew Resistance line on RSI Indicator.
2) I drew Resistance line on Momentum Indicator.
3) I drew Resistance line on CCI Indicator.
4) I drew Resistance line on MACD Indicator.
For a while now SEDG has been consolidating. Mid March, the price tried to take the lows out however it failed. EMAs crossing now and momentum picking up to the upside.
Risk responsibly. Good luck
After the short from March 7th until March 20th we saw a rebounce. It has reached more than 50 % retracement now and I think that it is worth to play the downside again.
We have retraced the mid February decline by 38 % now. Close to an open downward window with a channel that has turned downward already I assume that we will leave the recent trading range to the downside soon.
We have reached a 6 year old bottom now. There is room for a bigger correction.
Whether this will take place immediately is not sure. At least the likelihood for a rise is bigger now.
NASDAQ:SEDG
Solar industry still under big pressure, because of Hi Interest Rates!
Break of 63.5 Level can cause a huge drop, a 50 % drop is possible!
In my opinion this scenario is very likely, considering the entire solar industry is under pressure
Reasons for bullish bias:
- Price is at strong support
- Price formed double bottoms on weekly
- Entry at neckline breakout for further confirmation
- Strong bullish divergence
Entry Level(Buy stop): 106.25
Stop Loss Level: 58.17
Take Profit Level 1: 154.33
Take Profit Level 2: Open
SolarEdge ( NASDAQ:SEDG ), a prominent player in the renewable energy sector, finds itself grappling with significant challenges as it navigates through turbulent market conditions. Despite its innovative solutions and prior successes, the company's recent performance has been overshadowed by a slew of setbacks, including a stark downturn in revenues and a...
SolarEdge ( NASDAQ:SEDG ), once a stalwart in the renewable energy sector, finds itself at a crossroads as it announces a massive layoff plan, cutting 900 jobs – a move that underscores the harsh realities of a sharp decline in revenue. The company, which had witnessed an 80% drop in valuation, is grappling with unforeseen challenges, including postponed orders,...
At current stock price, the P/E is extremely inflated above 70 !
SEDG has no reason to be trading at these prices whatsoever, once the last impulsive wave #5 is completed, the sell will come like a tsunami!
Good luck to bag holders!
Solar Edge technology stock experienced the most aggressive sell-off in 2023 since it went public. A rebound from pre-covid prices attracted investors and we saw one of the highest buying volumes in the stock's history.
This can be a sign of a bottom and a possible rebound to $100 and beyond. The first position was filled when the market opened.
Sitting right at support and it can have a dead cat bounce towards 190. If it stays at current prices for few weeks, then may not be likely to bounce back.
This might be one for the future, building a portfolio with value you believe in can only be rewarding.
Looks like everyone and their mother are eyeing towards solar one way or another, whether it is to save money every month, or be green, renewable energies will benefit from strong tailwinds in the near future, when inflation is tamed and everyone gets back to...
Similar to PODD, NASDAQ:SEDG is showing signs of abandoning its steep selloff following decent earnings. Volume shows that the bears are weakening, and the RSI 20 on the daily chart is attempting a bullish crossover. If it manages to find it's way back up, it has a nice gap to fill. I'll likely enter if volume begins to indicate that the bulls are showing back up.
