1 hour ago
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Patrick Martin
Wed, June 24, 2026 astatine 11:19 AM CDT 1 min read
SolarEdge Technologies Inc (NASDAQ:SEDG) banal has pivoted into the reddish today, down 1.8% to commercialized astatine $51.42 aft opening the league higher. The alternative energy stock has taken a 32% haircut this period and is 36% disconnected its May 29 two-year precocious of $81.25. The bully quality is that if past is precedent, the pullback could person historically bullish implications.
According to Schaeffer's Senior Quantitative Analyst Rocky White, SEDG is trading wrong 0.75 times its 80-day moving average's 20-day mean existent scope (ATR), aft spending astatine slightest 80% of the erstwhile 2 weeks and 80% of the anterior 42 trading sessions supra that trendline.
This setup has appeared 10 times implicit the past decade, aft which the banal was higher 1 period aboriginal 60% of the time, averaging a 13.4% gain. A determination of akin magnitude would person SolarEdge backmost supra $60.
Despite an 80% year-to-date summation connected the year, bearish bettors person piled connected during the pullback, with abbreviated involvement up 7.3% successful the 2 astir caller reporting periods. The 10.95 cardinal shares sold abbreviated relationship for 18.2% of SEDG's full disposable float.
A displacement successful sentiment among analysts could besides substance tailwinds. SEDG is up 175% successful the past 12 months, yet 25 of the 26 brokerages covering the banal support "hold" oregon "strong sell" ratings. Plus, the equity's statement 12-month terms people of $40.87 is simply a 20.6% discount from its existent perch.
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