SolarEdge Technologies Inc. - (SEDG) - June 7, 2022 (Daily Stock Report)

by SIACharts.com

 

 

With solar stocks attracting renewed interest recently, SolarEdge Technologies (SEDG) has soared up the rankings in the SIA S&P 500 Index Report over the last week, climbing up from the red zone back into the Green Favored Zone for the first time since March.

For the last eighteen months, SolarEdge Technologies (SEDG) has been trending sideways between $200.00 and $375.00. Last month, SEDG successfully retested the bottom of this zone and since then it has been on an upswing, retaking its 50-day moving average and then the $300.00 level.

Based on previous peaks, upside resistance on the current upswing could potentially appear near $340.00 or $375.00, with initial support possible at the 50-day average near $275.

 

Bouncing back from a successful retest of support near $210.00, SolarEdge Technologies (SEDG) has soared back up above the $300.00 level. Along the way, SEDG has completed a bullish Double Top breakout signaling the start of a new upswing within the wide range that has dominated the last year.

Potential upside resistance tests appear near $337.75 and then $372.90 based on previous column highs. Initial support appears near $282.60 based on a 3-box reversal.

With a bullish SMAX score of 7, SEDG is exhibiting strength against the asset classes.

 

Disclaimer: SIACharts Inc. specifically represents that it does not give investment advice or advocate the purchase or sale of any security or investment whatsoever. This information has been prepared without regard to any particular investors investment objectives, financial situation, and needs. None of the information contained in this document constitutes an offer to sell or the solicitation of an offer to buy any security or other investment or an offer to provide investment services of any kind. As such, advisors and their clients should not act on any recommendation (express or implied) or information in this report without obtaining specific advice in relation to their accounts and should not rely on information herein as the primary basis for their investment decisions. Information contained herein is based on data obtained from recognized statistical services, issuer reports or communications, or other sources, believed to be reliable. SIACharts Inc. nor its third party content providers make any representations or warranties or take any responsibility as to the accuracy or completeness of any recommendation or information contained herein and shall not be liable for any errors, inaccuracies or delays in content, or for any actions taken in reliance thereon. Any statements nonfactual in nature constitute only current opinions, which are subject to change without notice.

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