Market Overview

SunEdison Rallies Off New Deal, Debt Repayment

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SunEdison Inc (NYSE: SUNE) shares are trading higher by $0.64 at $3.64. Investors are warming up to the issue as the company has announced a solar power deal in L.A. County, termination of Continuum acquisition, sale of solar capacity in India and payments on it margin load.

The string of good news instigated a higher open that was short-lived. The ensuing decline took the issue within $0.14 of Monday's close ($3) before resuming its rally.

It just surpassed its four-day high at $3.60. The intra-day high based on the daily chart does not come until its five-day high of $4.60.

Joel Elconin is the co-host of Benzinga's #PreMarket Prep, a daily trading idea radio show.

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Posted-In: Premarket outlookTechnicals Intraday Update Movers Trading Ideas

 

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