SolarEdge Technologies stock price up 3.91% on Friday
(Updated on Dec 01, 2023)
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Given the current short-term trend, the stock is expected to fall -52.90% during the next 3 months and, with a 90% probability hold a price between $22.57 and $38.85 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
SEDG Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, November 09, 2023, and so far it has risen 17.28%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. The SolarEdge Technologies stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $83.68. On a fall, the stock will find some support from the short-term average at $78.71. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal.
Support, Risk & Stop-loss for SolarEdge Technologies stock
SolarEdge Technologies finds support from accumulated volume at $79.38 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $6.53 between high and low, or 8.58%. For the last week, the stock has had daily average volatility of 5.83%.
Our recommended stop-loss: $79.71 (-3.35%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 15 days ago.)
Trading Expectations (SEDG) For The Upcoming Trading Day Of Monday 4th
For the upcoming trading day on Monday, 4th we expect SolarEdge Technologies to open at $80.43, and during the day (based on 14 day Average True Range), to move between $77.39 and $87.57, which gives a possible trading interval of +/-$5.09 (+/-6.17%) up or down from last closing price. If SolarEdge Technologies takes out the full calculated possible swing range there will be an estimated 12.35% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $82.90 (0.51%) than the support at $79.38 (3.76%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is SolarEdge Technologies stock A Buy?
SolarEdge Technologies holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: 0.233 Open Broker AccountHold/Accumulate Unchanged
Predicted Opening Price for SolarEdge Technologies of Monday, December 4, 2023
The predicted opening price is based on yesterday's movements between high, low, and closing price.
|Fair opening price December 4, 2023||Current price|
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Fibonacci Support & Resistance Levels
Accumulated Volume Support & Resistance Levels
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