Long

Falling Wedge- Bullish - Update

Updated

ENPH looking really nice heading into earnings here. After getting beaten down below the 200-Day SMA where it's previously found support, ENPH just reclaimed the 20-Day EMA & is currently sitting on the 20-Day SMA. Big falling wedge on the daily timeframe and massive hidden bullish divergence on the weekly timeframe (Not Pictured). RSI is finally starting to come out of oversold territory as buyer volume picks back up. Bollinger bands are also squeezing (Not Pictured) in addition to some slight hidden bullish divergence on the 4-hour timeframe. 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- see previous charts attached below for previous price targets.

- Falling Wedge
- Reclaimed the 20-Day EMA
- RSI Finally Out of Oversold Territory
- Massive Bullish Hidden Divergence on the RSI on the Weekly Timeframe (Not Pictured)
- Bollinger Bands Squeezing (Not Pictured)
- Buyer Volume Picking Back Up

PT1- $143.38
PT2- $145.42
PT3- $146.71
PT4- $148.66 +

--Previously Charted--
https://www.tradingview.com/i/ULwN0dwp
https://www.tradingview.com/i/oY7XfPVU/
https://www.tradingview.com/i/MAsaWb2V
https://www.tradingview.com/i/4qd3wLsS

Comment

PT1 Reached ✅

Trade closed: target reached

All Price Targets Reached ✅

jacobosiason7

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