SolarEdge Technologies (SEDG.US) shares fell more than 5% during today's session after Morgan Stanley downgraded the company to equal-weight from overweight with a price target of $338, up from $318, saying that the stock appears to be fully valued after a recent hot streak with a limited room for further upside. The analyst Stephen Byrd added that as the company's non-solar business grows, its margins may decline over time.
SolarEdge (SEDG.US) stock launched today's session with a bearish price gap, and buyers made an attempt to break above local resistance at $ 338.00, which coincides with 38.2% Fibonacci retracement of the last upward wave. However, bulls did not have strength to stay above this level and price resumed downward move. If current sentiment prevails, next support at $305.00 may be at risk. Source: xStation5
Start investing today or test a free demo
Open account Try demo Download mobile app Download mobile appThis content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.
