I have been tracking NASDAQ:ENPH for awhile now and I like how it is behaving this morning. I went long 1/2 size and already up $4.50 a share. It is now consolidating on the 5 min chart. I may add more. TBD.
The chart I am using is the All-In-One LevelUp tool available here on TV. Check it out.
Ideas, not investing / trading advice. Comments always welcome. Thanks for looking.
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I have added to make a 3/4 size position and I have also moved my stop on both tranches to breakeven. Lets see what happens.
Trade closed manually
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NASDAQ:ENPH is fading badly here. sold out for a very small profit. Back on watchlist.
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When a stock is not acting like you want it to it is better to let it go. This started turning bad on me yesterday. I sold it for a small profit. It did rally after that but volatility in the market kept me out. Good thing, news today sends it down even more. Lesson should be don't loose money (if you can help it). You can always buy it back if it sets up again.
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Just thought I would do a little update on ENPH. It opened strong this morning but faded. I will be looking to see if it can close over todays AVWAP. If it does and tomorrows performance can follow thru I may look to start a small position. If so. I will post a new idea.
Where are you with this? I've finely got some cash and looking to sell a put around 108. Would love to see a re-test of that support. I think the worst is behind this stock and company. Solar hasn't had the love chips have and the future is bright (no pun) I think. Thanks for the charting!
jaxdog
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@BuyInHigh, I am and have been out since April 4th. I was liking that it was setting up again until this mornings CPI report. Higher rates are hurting the Solar sector on the resi side. As for my opinion on selling Puts, I only sell puts on stocks I would not mind owning at that price (which would not be many). I appreciate the that you like my charting. I will admit freely that I am only right about 50% of the time. If ENPH sets-up again for my trading style I will do a new post. Thanks for the Q and the feedback.
BuyInHigh
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@jaxdog, awesome. I'm ok buying and holding as I like the last guidance last earnings. I want it near 100 though. Thanks for the reply and will keep watching and checking for any updates you might have. Happy day to ya
jaxdog
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@BuyInHigh, Interestingly, you can sell a $100 May 17th Put and get $4.00 ($400) for your risk. If it drops to $100 or less you are on the hook to buy and you would be okay down to $96 (that's breakeven). If it is higher on expiry you keep the $400. Not bad if you like ENPH @ $100.
BuyInHigh
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@jaxdog, I started looking further today actually. The options are quite attractive currently. I didnt get the sell off I was hoping for today. Maybe with PPI tomorrow. I'm very impressed with how well this sector has held up this week. Totally recovered back to yesterdays close.