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Enphase Energy, Inc.
Long

Falling Wedge- Bullish - Update

By jacobosiason7
ENPH has been trading sideways for quite some time now while simultaneously getting beaten down by the broader markets, and testing a very strong resistance level circa $223-214.00. However, ENPH has seemingly found a bottom with a significant amount of bullish flow coming in while heading into earnings on 4/23'. From a fundamental standpoint, relative to others in the sector such as FSLR, ENPH is undervalued compared to other big names in the sector. Nevertheless, ENPH is setting up quite nicely here, hovering in and out of oversold territory while holding a massive falling wedge, accompanied by hidden bullish divergence on the RSI on the weekly timeframe (See Attached Chart Below). Furthermore, ENPH is sitting right on its 50-day SMA while bulls & bears are pulling. Regardless, Bullish and will be looking for a breakout from this wedge (Broader Market Conditions Permitting)- Just some support and resistance levels to watch along with some RSI-based supply and demand zones to keep an eye on in the meantime --Previous Charts Attached Below As Well As Price Targets--

PT1- $222.58
PT2- $228.34
PT3- $234.62
PT4- $240.37 +

Weekly Timeframe
https://www.tradingview.com/chart/ENPH/X0eB0kXr-ENPH-Weekly/

Fundamentals
https://www.tradingview.com/chart/ENPH/3nGDkBju-ENPH-Fundamentals/

Previously Charted
https://www.tradingview.com/chart/ENPH/4qd3wLsS-Bullish-long-play/
https://www.tradingview.com/chart/ENPH/yR1qSAmd-enph/
Bullish PatternsChart Patternsearningsplayfalling_wedgehidden_divergenceTechnical Indicatorsoversoldrelativesupply_and_demandsupport_and_resistanceswingTrend Analysis
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