A Bullish Sign Appears On SolarEdge Technologies's Chart

If history is any guide, there may be good fortune ahead for shares of SolarEdge TechnologiesSEDG. A so-called "golden cross" has formed on its chart and, not surprisingly, this could be bullish for the stock.

What To Know: Many traders use moving average crossover systems to make their decisions.

When a shorter-term average price crosses above a longer-term average price, it could mean the stock is trending higher. If the short-term average price crosses below the long-term average price, it means the trend is lower.

Why It's Important: The 50-day and the 200-day simple moving averages are commonly used.

The golden cross occurs when the 50-day crosses above the 200-day. This could mean the long-term trend is changing.

That just happened with SolarEdge Technologies, which is trading around $259.55 at publication time.

signals

Remember: Seasoned investors don't blindly trade Golden Crosses.

Instead, they use it as a signal to start looking for long positions based on other factors, like price levels and company fundamentals & events.

For seasoned investors, this is just a sign that it might be time to start considering possible long positions.

With that in mind, take a look at SolarEdge Technologies's past and upcoming earnings expectations:

Quarter Q2 2021 Q1 2021 Q4 2020 Q3 2020
EPS Estimate 1.12 0.99 0.86 0.81
EPS Actual 1.28 0.98 0.98 1.21
Revenue Estimate 454.69 M 396.21 M 356.25 M 341.88 M
Revenue Actual 480.06 M 405.49 M 358.11 M 338.10 M

Do you use the Golden Cross signal in your trading or investing? Share this article with a friend if you found it helpful!

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