Enphase Energy (ENPH, $154.95) and SolarEdge (SEDG, $280.94) got rating upgrades at Susquehanna
Shares of solar energy companies Enphase Energy and SolarEdge got rating upgrades from analysts at Susquehanna.
Susquehanna analysts boosted their rating on the shares to positive from neutral. Analyst Biju Perincheril said he expects U.S. solar capacity to increase by about 25 gigawatts over the next five years, an upward revision of 1 gigawatt from his January forecast, according to Bloomberg.
However, earlier in the week, California’s three biggest utilities proposed changes in the state’s solar program that would lead to higher connection charges and lower rebates for homeowners’ new solar panel installations. According to the utilities, this proposed rule intends to mitigate “unfair and growing inequity” in state policy that has non-solar customers paying about $3 billion more a year for electricity to subsidize solar customers, Bloomberg reports.
Bernadette Del Chiaro, executive director of the California Solar and Storage Association, responded, “California is a solar state, but the utilities want to own the sun and keep it out of the hands of everyday people”.
Momentum Indicator for ENPH turns positive, indicating new upward trend
ENPH saw its Momentum Indicator move above the 0 level on February 03, 2025. This is an indication that the stock could be shifting in to a new upward move. Traders may want to consider buying the stock or buying call options. Tickeron's A.I.dvisor looked at 70 similar instances where the indicator turned positive. In of the 70 cases, the stock moved higher in the following days. The odds of a move higher are at .
Technical Analysis (Indicators)
Bullish Trend Analysis
The RSI Oscillator points to a transition from a downward trend to an upward trend -- in cases where ENPH's RSI Oscillator exited the oversold zone, of 34 resulted in an increase in price. Tickeron's analysis proposes that the odds of a continued upward trend are .
The Stochastic Oscillator suggests the stock price trend may be in a reversal from a downward trend to an upward trend. of 51 cases where ENPH's Stochastic Oscillator exited the oversold zone resulted in an increase in price. Tickeron's analysis proposes that the odds of a continued upward trend are .
The Moving Average Convergence Divergence (MACD) for ENPH just turned positive on February 03, 2025. Looking at past instances where ENPH's MACD turned positive, the stock continued to rise in of 43 cases over the following month. The odds of a continued upward trend are .
Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where ENPH advanced for three days, in of 326 cases, the price rose further within the following month. The odds of a continued upward trend are .
Bearish Trend Analysis
ENPH moved below its 50-day moving average on January 08, 2025 date and that indicates a change from an upward trend to a downward trend.
Following a 3-day decline, the stock is projected to fall further. Considering past instances where ENPH declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .
The Aroon Indicator for ENPH entered a downward trend on January 16, 2025. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options.
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