ENPH has been on a staircase to heaven fueled by the govt support on solar energy & the current supply chain crisis on crude oil & natural gas. The near term destination of the bullflag will be 387. After that a wave 4 correction may follow before the final leg up to 498 for wave 5. Not trading advice
I don't understand how you got there but the price targets are in line with the bulls Earning release late Oct. fits the script. Thank you for the presentation. I will soak up over the Sunday the full graphic:)
xtremerider8
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@slem7, sorry my weakness has always been clusterred charts. The 2 targets are estimates by using Elliott wave counts, bull flag projections & also important Fib/ Fib extension levels. Thanks for your input. Hope this helps.
xtremerider8
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If the US indices continue to fall 4Q2022, we may expect wave 5 to top out near 400. But if 400 is breached, then there may be enough steam left to see a topping out distribution around 420 to 450 zone before an overshoot to 500 providing a negative divergence for a reversal play.