ENPH: Pull Back + Bounce + Active Level RetestBig Picture:
Earnings coming up 10/25/22. Had good Earnings last time. Coming back into aggressive buying from July and last earrings period. (Will the buyers want to fight for the price a little bit now before earnings?)
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Setups:
07/20/22 - 07/27/22: ENPH broke out out from a volume accumulation + Aggressive Buying
08/02/22 - 09/06/22 Volume Accumulation
09/15/22 - 09/21/22 Volume Accumulation
09/22/22 Aggressive Selling
09/26/22 - 10/04/22 Volume Accumulation
10/05/22 - 10/07/22: Aggressive Selling
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Intraday Technical:
ATR: 16.13
ATR (200Day): 14.42
DTR: 16.95
%: 105.00%
RVOL: 0.82
Rel Vol (Finviz): 0.75
RSI (14 Day): 30.64
RSI (200 Day): 52.51
Volume: 2,884,739
AvgV: 3.83M
Ch% (FINVIZ): -4.35%
FS%: 3.31%
Shs Outstanding: 135.20M
Shs Float: 132.68M
Inst Own: 75.10%
2 Day VWAP: 244.6
Weekly VWAP: 250.33
Monthly VWAP: 263.01
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10/13/22
Open: 248.73
HOD: 254.21
LOD: 237.26
Close: 244.59
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Key Areas of Support:
216.82
230.14
245.49
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Key areas of Resistance:
257.08
283.43
295.02
315.29
Inflection Point:
245.35
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Trade Plan:
Look for a pull back to 237.64
If pulls back to 237.64 and see absorption then start long.
If blow through VWAP then Cover and look to add back in a pull back. If add in pull back this is a new trade and make sure to cover this new add at the next neck line.
If hits PT 2 then look for a pull back with absorption and add. Then sell this Add right into the above neckline.
Take original trade to PT 3 and sell
Risk/Reward: 20% of ATR $2.88
Entry: $237.64
Stop $234.76
Exit: $249.18
PT 1: $240.52
PT 2: $243.41
PT 3: $246.29
PT: 4 $249.18