LDC870
Long

ENPH Consolidation: Powder Keg or Time Bomb?

NASDAQ:ENPH   ENPHASE ENERGY INC
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 (smoothed RSI ) 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.
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