Sep. 12 at 12:42 AM
$SEDG I am bullish on it for following reasons:
1.
$SEDG had a bullish news regarding new software capabilities for SolarEdge ONE (for C&I Energy Optimization Platform)
2. Post presidential debate, solar investors see a Harris win as more likely (not a political statement)
3.
$TAN (Invesco solar ETF) +
$RAYS (Global X Solar ETF), the two biggest stock holders are also bouncing (their RSIs are rising)
4. The entire solar sector is bouncing, however,
$SEDG has recently been relatively weak (this could be a positive and negative - more room to rise, but if the sector stalls, this could be one of the first ones to drop)
5. The institutional ownership for
$SEDG is at 104.24% and short float is at 33.38% (if it continues to rise, shorts will have to cover)
6. It gapped up this morning by 7.73% with a large buying candle at 4am, then it was mostly buying all day (buying volume bars), but the price didn't move much
7. The
$SEDG options expiring next week (monthly) have the Put/Call Open Interest Ratio of 0.28, which is very bullish
I don't have a proper trading thesis on it yet, but I will continue to watch it for a squeeze in the next few days along with other solar stocks