SolarEdge (SEDG, $247.40) shares climb, on Q3 revenue growth
SolarEdge Technologies Inc. posted its third quarter results after the bell Monday, leading to its shares soaring on Tuesday.
The smart energy technology company’s third-quarter revenue rose to $836.7 million, from $526.4 million in the year-ago quarter. The company mentioned that it generated a record revenue of $788.6 million in its solar segment.
SolarEgde’s revenues in Europe surged +90% from the year-ago period.
Earnings in the quarter came in at 43 cents per share, compared to the year-ago quarter’s $1.01 per share.
Looking ahead, the company expects revenues in a range of $855 million to $885 million for the fourth quarter. Its guidance for solar segment revenues is a range of $810 million to $840 million.
SEDG's MACD Histogram just turned positive
The Moving Average Convergence Divergence (MACD) for SEDG turned positive on November 25, 2024. Looking at past instances where SEDG's MACD turned positive, the stock continued to rise in of 51 cases over the following month. The odds of a continued upward trend are .
Technical Analysis (Indicators)
Bullish Trend Analysis
The RSI Indicator points to a transition from a downward trend to an upward trend -- in cases where SEDG's RSI Oscillator exited the oversold zone, of 33 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 56 cases where SEDG'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 Momentum Indicator moved above the 0 level on December 19, 2024. You may want to consider a long position or call options on SEDG as a result. In of 84 past instances where the momentum indicator moved above 0, the stock continued to climb. The odds of a continued upward trend are .
SEDG moved above its 50-day moving average on December 23, 2024 date and that indicates a change from a downward trend to an upward trend.
Following a +1 3-day Advance, the price is estimated to grow further. Considering data from situations where SEDG advanced for three days, in of 284 cases, the price rose further within the following month. The odds of a continued upward trend are .
Bearish Trend Analysis
Following a 3-day decline, the stock is projected to fall further. Considering past instances where SEDG declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .
SEDG broke above its upper Bollinger Band on November 29, 2024. This could be a sign that the stock is set to drop as the stock moves back below the upper band and toward the middle band. You may want to consider selling the stock or exploring put options.
The Aroon Indicator for SEDG entered a downward trend on November 18, 2024. 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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