After slumping 38% this year, shares of SolarEdge Technologies are looking to bounce back, at least according to one popular metric. The S & P 500 and the Nasdaq Composite ended the week down 0.3% and 1.9%, respectively, with both indexes declining for a second straight week as investors weighed July readings on consumer and wholesale inflations and multiple corporate earnings. The Nasdaq was dragged down by a selloff in semiconductor stocks, such as Nvidia and Micron.
Anticipating a reversal of this trend, analysts forecast about 31% upside for the company Cambridge, Massachusetts-based vaccine maker Moderna is also oversold, with an RSI of 7.3. It has the highest expected upside on the list, at 81.3%, and nearly 35% of analysts rate Moderna a buy. Moderna shares have slumped 43.5% so far this year, dragged down by plunging sales for its Covid vaccines, its only marketable product.