Jul. 9 at 8:08 PM
The best reversals usually start when sentiment is at its worst.
$SEDG
SolarEdge is showing a very clean technical setup as it works through a Primary Wave 4 correction.
The stock is currently finding support around the Daily 100MA near
$49, with multiple confluences lining up:
• PW4 .618 Fib around
$48
• Weekly 20MA near
$50
• Daily/Weekly breakout zones
• Clear bullish RSI divergence on the daily chart
That combination is exactly what traders want to see near a potential reversal area.
Base case: a successful reversal toward Primary Wave 5 targets around
$102+.
Risk case: if buyers fail to step in, the next major support zone sits around
$38-
$41.
No setup is guaranteed, but the risk/reward here is getting interesting.
Keeping
$SEDG on the watchlist. Follow for more technical setups and high-conviction chart breakdowns.
