Enphase Energy (ENPH) came out with quarterly earnings of $0.18 per share, beating the Consensus Estimate of $0.13 per share. We enter a bullish position trade on this stock at $12.83 and will continue to hold with an option to add to position if stock trade above $35.00
It is best to wait for a correction before entering this trade..
Trade active
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Stock Gap at open.. wait for a pullback.. Risky to enter now
Comment
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We will move our active Trailing Stop to $29.50.
Comment
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It seems as if big money started to flow into this stock and we might not see a deep correction. In light of this we can add to current position or enter a new position by risking 0.25% of free equity with a Stop Loss of two(2) times the Daily Average True Range(ATR).