My firm’s is currently bullish on Canadian Solar (CSIQ), JinkoSolar (JKS), and the Solar Sector ETF (TAN).
Today, we added SolarEdge Technologies stock (SEDG) to that group.
$SEDG is breaking out of a downward wedge consolidation pattern and looks poised for new highs; we are near-term bullish over the coming weeks.
To be clear, the entire solar group is in gear with bullish trends in place, and this should help those stocks with buy setup patterns.
This includes SEDG, which has turned up above its 50-day moving average and is breaking out above its downtrend line.
If you need to manage risk further, you can consider using $SPY as the hedge.
SolarEdge Technologies (SEDG) Stock Chart
The author or his firm have a position in mentioned securities at the time of publication. Any opinions expressed herein are solely those of the author, and do not in any way represent the views or opinions of any other person or entity.