I've been watching ENPH
for a couple of months. Recent retracement has been encouraging but there's been significant consolidation the last few days between 4.80 and 5.00. A very large percentage of the float has been shorted. Jurik indicators show rising RSX
) and that the negative VEL (MOM) has been eliminated. The squeeze is on and ENPH
is poised to move drastically - the question is, which direction?
I'm betting on another upward climb. It could be today or consolidation could continue into next week. I could also be completely wrong - especially so if the technical indicators are being skewed by market manipulation of those who heavily shorted this stock. What you need to watch for is volume
- I believe that the first significant uptick in volume
will release the squeeze and light the powder keg.
Good luck to all.