Solaredge reported earnings yesterday and were above many analysts estimates. Maybe pessimism was just to high, today analysts have produced some notable upgrades with positive appraisal of the companies future and strategy. Shares are up 18% premarket so keep your eye on this one, for continuation or possible entry on any pullback.
The lines are some decent specific levels to enter or exit at, should front run a tad.
The boxes around the levels represent entry/exit zones where anything is suitable if the levels themselves arent used.
Two trade setups within, shorter term and slighter longer timeframe.
The yellow box/levels signify a short term trade entry range. The orange dotted line...
12/26 MACD cross-over with CCI entry crossing 0 on weekly candlestick chart.
Solaredge Technologies is down from peak of $68 and showing entry point at $38.03 on chart.
Market Cap value $1.65B
Enterprise value $8.4B
Total debt -0-
Free cash flow $150M
Sales growth rate: 22%
Expected value: $3.3-3.5B
Israeli Solar company SolarEdge...
- Weekly Stochastic rising out of oversold
- Weekly MACD almost crossing up
- Appears to be in an area of support (2015 and 2017 highs)
- Above 10 WMA / 50 dma
- Solar sector has been performing recently
- Roughly 10% stop loss is appropriate, size accordingly
Solar Edge is on the verge of a falling wedge breakout. There was a double bottom too which I feel makes this breakout even stronger. A daily close above yesterday's high would confirm this breakout for me.
Sorry I didn't get a chance to post this one, but still wanted to show some of you how it happened. It gapped below that pivot trapping longs so I took the trade under that and to the nearest support which was the 200MA. Long term moving averages are great targets for gap ups and gap down trades.
SEDG (Solaredge) was sold off rapidly in the past 3 days, which was unsurprising, given the massive run-up after earnings. It is now near a support level: approximately the price it was hovering around pre-earnings, presenting a good opportunity to go long.
This play is risky. The stock is still a "falling knife".
Short term target: $54 - $58 monthly calls