Long

ENPH- Triangle Breakout - Update

Updated

The solar sector has been leading the broader markets for some time now, very much eyeing ENPH along with some others in the sector for a run-up & breakout prior to, and after their earnings. ENPH is holding a big symmetrical triangle on the daily timeframe after closing on Friday sitting on its 20-Day SMA. ENPH additionally has some nice bullish divergence on the RSI on the daily timeframe, as well as holding an ascending triangle on the 4-Hour timeframe after forming a bullish butterfly harmonic pattern (See Attached Chart Below). Bullish and will be looking for a breakout from this triangle (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.

4-Hour Timeframe
https://www.tradingview.com/chart/ENPH/tdBmHC23-ENPH-4-Hour/

--Previously Charted--
https://www.tradingview.com/i/Leta1Iqc/
https://www.tradingview.com/i/ULwN0dwp
https://www.tradingview.com/i/oY7XfPVU

PT1- $198.17
PT2- $200.85
PT3- $203.22
PT4- $206.60 +

Note

PT1 Reached ✅

Trade closed: target reached

All price targets reached ✅

jacobosiason7

Also on:

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.