rbswingtrader

Change in direction/count

Short
NASDAQ:SEDG   SolarEdge Technologies, Inc.
I have been posting about SEDG since it was $260 and this week i closed all my positions at $370. Though my previous charts shows a much higher target for this stock but i think i was missing that the last wave which got us to the current price doesn't really fit well into an impulsive structure. Hence, recounting it is making me believe that this was just one rebound of the overall correction and we have one more leg down coming to make it a 3-3-5 ( FLAT correction ). Short term i will be bearish on this stock with the Target back to $220 with the SL of $375. I think that's a great RR on this trade.

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