Enphase Energy (ENPH) | Approaching a Strong Support!Hi,
Enphase Energy is a global energy technology company. The company delivers smart, easy-to-use solutions that manage solar generation, storage, and communication on one platform. The company's microinverter technology primarily serves the rooftop solar market and produces a fully integrated solar-plus-storage solution. Geographically, it derives a majority of its revenue from the United States.
Technical criteria point out that $165 - $200 can produce a short-term rejection:
1. Previously worked resistance area becomes support.
2. Round number $200 has played a lot of role in the history of PA.
3. The clean trendline, drawn from the bodies, adds strength to the possible buying zone.
4. The bottom of the range, around $165, is the last criterion that can push the price up and which has a lot of power to produce some reversals and it is the simple 50% drop from ATH.
Do your homework, do your fundamentals, and if this matching with my TA then you are ready to go. Green light from both analyses is needed!
Regards,
Vaido
