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Thnacks
Oct 27, 2023 12:28 AM

Possible Support Long

Enphase Energy, Inc.NASDAQ

Description

The trend line on the screen has been support for many years. Price is revisiting this trend line with the most recent earnings. 75 - 80 may serve as local support and price may bounce. Good risk to reward as a stop is just below trendline. Not financial advise.

Comment

Based on the past price action at this trend line, I have opened a long position for a bounce. I will refer you to the DG chart and the long term trend line that priice hit and how it interacted. Price can always go lower, but risk to reward here put probabilites in an upside move.

Comment

I sold my calls, I was up almost 100% in 24 hours. I still think this has room to the upside. Not financial advise

Comment

This has been a beautiful trade for all those taking it!

Comment

Here comes 115

Comment

Beautiful!

Comment

Wonderful reaction at trendline
Comments
nandarahul2003
Hello, I am following your technical analysis. Do you still think it can go to 115? What is the 115 level? I see resistance around 113.5 and 120.
Thnacks
@nandarahul2003, a pretty nasty topping tail at 111.75. This makes me less inclined price moves to 115 in the short term.
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