Enphase Energy, Inc. is an energy technology company that provides energy management technology solutions for the solar photovoltaic industry worldwide. It engages in designing, developing, manufacturing and selling software-driven home energy solutions, which connect energy generation, energy storage and web-based control and communications management services.
ENPH has a strong buy recommendation from the analyst consensus on the Streets with a target price near the $215 mark. This also happens to be the point which the stock was unable to hold last time it broke out of the $ 200 mark, so should be a point to consider as and when price approaches these levels
From a technical standpoint, ENPH is right above its 20 Day MA and 20 Week MA. RSI in bullish zones and peaking up. Volume spike has been observed over the last few days averages and Bollinger bands on Daily charts are beginning to expand, that means sharp moves ahead.
On a break higher, expect next target $200
Hourly chart also has Bull Flag set up, could get a good swing trade near the 20 Day MA entry
ENPH has a strong buy recommendation from the analyst consensus on the Streets with a target price near the $215 mark. This also happens to be the point which the stock was unable to hold last time it broke out of the $ 200 mark, so should be a point to consider as and when price approaches these levels
From a technical standpoint, ENPH is right above its 20 Day MA and 20 Week MA. RSI in bullish zones and peaking up. Volume spike has been observed over the last few days averages and Bollinger bands on Daily charts are beginning to expand, that means sharp moves ahead.
On a break higher, expect next target $200
Hourly chart also has Bull Flag set up, could get a good swing trade near the 20 Day MA entry
Trade closed: target reached:
Target reached. great move with earnings, closing the trade near 215 levels. good 15pc return in less than 15 days. Closing trade as last time price had the same madness it was unsustainable when price had breached 225 levels. it fell extremely sharply to 175 levels. so taking profits off the table and may be better to look put for setup again
