Recovery and fresh ideas in alternative energie sectors
After a serious slump we see some life in SEDG. Stock went through a constructive bottoming phase with three retests on low volume followed by surges of accumulation. Last three swings show higher highs and higher lows. Yesterday the stock bounced off the 50d SMA and surged through major resistance at 14.50. It is now trading at the next major resistance level around 15. We also see two major volume clues. One came after last earnings and the other one yesterday. Barron's published some bullish stuff on SEDG which is not the best way to start a run. But it had a rather strong intraday shakeout all the way back to the 50s SMA.
A big plus is the fact that there isn't much attention lately (just check the social momentum indicator on stock twits for this purpose as it provides a very powerful contrarian indicator due to the large userbase!)
I also noticed that AGR is acting quite constructive and is setting up for a potential run. Both are alternative energy names (solar and natual gas) which could lead a recovery in the respective sectors. As a plus one could be lucky with SEDG as it -at least in my opinion- could be a takeover target.
A big plus is the fact that there isn't much attention lately (just check the social momentum indicator on stock twits for this purpose as it provides a very powerful contrarian indicator due to the large userbase!)
I also noticed that AGR is acting quite constructive and is setting up for a potential run. Both are alternative energy names (solar and natual gas) which could lead a recovery in the respective sectors. As a plus one could be lucky with SEDG as it -at least in my opinion- could be a takeover target.
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