ENPH - Continued Downtrend
Updated
Looking to meet the .5 retracement going into earnings. Unless they have some outstanding news I don't see this momentum dying in the current conditions after the rally solar has had. Watching this into next week to enter on any pops. RSI looks to be oversold but has room for continuation down to around 14ish (D, 14) while the trailing 24 MA on RSI continues to trend down. MACD also showing continued strength down.
Trade active
I entered this with a few OTM Puts, 240 strike today on the pop. Cover around the 219 mark unless earnings are a complete beat, which I doubt.Trade active
Sized up my position.Trade closed: stop reached
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