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AwesomeAvani
Aug 20, 2023 5:08 PM

ENPH - a long energy trade LONG Long

Enphase Energy, Inc.NASDAQ

Description

ENPH is in the energy sector which has been strong in the past couple of weeks.

On the 2H chart over the past two years visible, ENPH is just above its support.

It is about 50% below its pivot highs of 9-12 months ago and in a parallel

descending channel. I believe that ENPH is now set up for a 50% retracement of

the Fibonacci type. Fundamentally, two or more good earnings reports is

certainly reassuring as is the present sector trend. I have drawn in horizontal

levels/lines for targets. I will take a stock trade long and investigate a 6 month

duration options contract as well. Please comment if you are interested in

those details.
Comments
byu99
Thank you for sharing! I saw solar sector pop up the other days and I think ENPH can have a good run up too. It has been beaten down very close to its previous low at 113. I missed the break down to 120 last week. Would love to see a retest of 120 and a bullish divergence on MACD and/or RSI for an entry for a leap call. Not sure if this will be likely. I would love to know your strategies for call options. For me I will look to take profit at 160, 180 while looking for sign of consolidation for further move up.
kmathieu
I am definitely interested :)
AwesomeAvani
@kmathieu, for the stock trade I have drawn the horizontal lines onto the chart including the stop loss. Take profit from 40% of the position at the nearst dollar below the first resistance line
another 40% similarly at the second resitance line and the remaining 20% as a runner to close th position altogether at the third resistance line. The swing trade could like into the year. I expect it to be supported by the present energy sector strength to get it off to a good start with further support if the Eurozone sanctions on Russian oil persist and OPEC+ continues to push supply contraints to support price In the meanwhile the US politicans will try to support production of shale oil as they move into gaining traction with voters in a new election cycle. LEt me know if you are interested in my ideas as to call options.
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