Solar Stock Could Overcome Technical Ceiling

The security is already up more than 41% year-over-year

Digital Content Manager
Jan 23, 2023 at 2:41 PM
facebook X logo linkedin

Solaredge Technologies Inc (NASDAQ:SEDG) is up 5.9% to trade at $312.14 at last check, likely enjoying broader market tailwinds. The security has fared well of late, up 41.5% year-over-year, though a ceiling remains at the $330 level. Traders have reason to believe today's rally may have legs, too, as the equity has pulled back to a trendline on the charts that has historically bullish implications.
Digging deeper, Solaredge Technologies stock recently pulled back to its 320-day moving average. According to Schaeffer's Senior Quantitative Analyst Rocky White's most recent study, SEDG saw six similar signals during the past three years, and was higher one month later 67% of the time, averaging a 7.6% pop. A similar move would place the equity back above $335 -- well above that previously mentioned ceiling.


 SEDG 320 Day 

Now looks like a good opportunity to weigh in on the security's next move with options. This per its Schaeffer's Volatility Index (SVI) of 66%, which sits in the relatively low 26th percentile of readings from the past year, suggesting options traders are pricing in low volatility expectations.  


Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on calls
238.5% GAIN on Oracle calls



Rainmaker Ads CGI