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Taking a look at what insiders are doing to gauge the Solaredge Technologies Inc (SEDG)’s direction

The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Solaredge Technologies Inc shares valued at $474,250 were purchased by AVERY MORE on Feb 29 ’24. At $67.75 per share, AVERY MORE acquired 7,000 shares. The insider’s holdings grew to 77,446 shares worth approximately $4.5 million following the completion of this transaction.

Also, AVERY MORE purchased 15,300 shares, netting a total of over 1,085,632 in proceeds. Following the buying of shares at $70.96 each, the insider now holds 70,446 shares.

Before that, GANI MARCEL had added 5,000 shares to its account. In a trade valued at $367,450, the Director bought Solaredge Technologies Inc shares for $73.49 each. Upon closing the transaction, the insider’s holdings increased to 5,000 shares, worth approximately $1.69 million.

As published in their initiating research note from DZ Bank on April 17, 2024, Solaredge Technologies Inc [SEDG] has been a Hold. Analysts at Janney downgraded the stock from ‘”a Buy”‘ to ‘”a Neutral”‘ outlook in a report released in late March. As of February 21, 2024, TD Cowen has reiterated its “an Outperform” rating for SEDG. Earlier on February 14, 2024, RBC Capital Mkts initiated its rating. Their recommendation was “a Sector perform” for SEDG stock.

Analyzing SEDG Stock Performance

During the last five days, there has been a surge of approximately 0.41%. Over the course of the year, Solaredge Technologies Inc shares have dropped approximately -37.93%. Shares of the company reached a 52-week high of $97.27 on 01/02/24 and a 52-week low of $53.59 on 04/22/24. A 50-day SMA is recorded $65.51, while a 200-day SMA reached $104.92. Nevertheless, trading volume fell to 2.12 million shares from 1.19 million shares the previous day.

Support And Resistance Levels for Solaredge Technologies Inc (SEDG)

According to the 24-hour chart, there is a support level at 56.85, which, if violated, would cause prices to drop to 55.60. In the upper region, resistance lies at 60.32. The next price resistance is at 62.54. RSI (Relative Strength Index) is 41.55 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.42, which suggests the price will decrease in the coming days. Percent R is at 74.82%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.

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