$108 or $59 support. 10% or 50% more down until bottom

BATS:ENPH   Enphase Energy, Inc.
ENPH is facing headwinds from multiple directions.

After a few years of sky high valuations, it is being looked at with fundamentals. Current PE of 30, so we could reasonably fall to a PE of 20 if the broader market crashes or if the CleanTech bubble (continues to) pop.

Either 10% down from here ~$108 or 50% down from here ~$59 are plausible IMO.

I like what these guys do, but I'm going to be cautiously on this one.
Looks like $59 is the next target

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