SEDG - for the long-term, with a short term analysis
Updated
I haven't purchased this stock yet because my portfolio already has a few energy stocks in it, but this is a high performer in its sector and will reconsidering overloading in that sector, keep for long-term. Portfolio management, right? The price is a good opportunity as it's undervalued.
Couple things to note on the chart:
- there's a gap to fill and the stock looks to be trying to correct this
- the lower Bollinger band has already been pierced and the stock is following those rules, supported by a rising RSI (currently at 48). I look for rising RSI in the ranges between 40-50, to get in before it's overbought
- after the pierce, we have two hollow candles (upward trend)
- but caution on the volume. SEDG normally trades 1m average but I'm suspecting this where the sellers are exhausted and accumulation is starting over.
- stock is now at a former point of strong resistance. Bust through that and it's on to the longer-term trend (wedge)
Couple things to note on the chart:
- there's a gap to fill and the stock looks to be trying to correct this
- the lower Bollinger band has already been pierced and the stock is following those rules, supported by a rising RSI (currently at 48). I look for rising RSI in the ranges between 40-50, to get in before it's overbought
- after the pierce, we have two hollow candles (upward trend)
- but caution on the volume. SEDG normally trades 1m average but I'm suspecting this where the sellers are exhausted and accumulation is starting over.
- stock is now at a former point of strong resistance. Bust through that and it's on to the longer-term trend (wedge)
Note
I was able to get in at 139.25 (probably could've gotten 136, but I didn't want to miss the run).
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.