$ENPH 5 Month Base$ENPH
* Triple digits EPS & Sales acceleration
* 5 Months Cup with Handle
* Or 5 Months Inverse Head & Shoulders continuation base (if you are more into that)
Anyway you look at it, this chart looks bullish.
E2NP34 trade ideas
Cup & Handle on ENPHThe solar system inverter maker has experienced phenomenal growth over the past three years, as it turned a profit of 10 cents a share in 2018. In 2020, earnings hit $1.37 a share. Wall Street sees continued growth in the bottom line, up 45% this year to $1.98 and rising another 35% in 2022. Sales growth accelerated from a 1% drop in Q3 2020 to gains of 26%, 47% and 152% through Q2 of this year.
Where is Enphase Stock Moving Next?Enphase Energy NASDAQ:ENPH is following a similar pattern as it did in October 2020. Where it was coming off a rapid runup, slight consolidation, and then a sell-off just a few days before earnings.
Do you think the Solar/Energy stock will start to consolidate until earnings in a few days?
Or are the inflationary pressures just too much of a headwind?
ENPH into earningthe pattern that is forming is very similar to the pattern for the run up to earnings on Feb 8th. The current pattern is just on a smaller scale. There's a double tap at the top of the +2 Regression trend. 9 is crossing the 20 SMA to the down side. BB is starting to squeeze and RSI is facing down. There is a nice support ledge at 163.40 on the volume profile. If that fails, look for 152.65. I think that those two consolidation levels could hold you through earnings, before we see another trend to the upside. (Solid lines with arrows on the chart)
Or it could follow the last earnings and just tank and then recover (dotted line)
ENPHPossible comeback from this one
needs to hold 139.85
PT 148.94 > 153.54 > 157.59 > 164.41 > 175.47
ABC BullishPossible stop under C or last pivot low. I forgot about this one, then looked today and but now I am feeling a little to far from a strong source of support. Tomorrow is another day (o:
Looks to be inside of a small symmetrical triangle and has made an attempt to break the top trendline of the triangle which is resistance. Symmetrical triangles are a neutral pattern until a trendline is broken.
There is an unfilled gap above price which may cause resistance.
Negative volume is very high indicating smart money is interested.
The moving averages are not in the right place but the 50 is barely floating above the 200. The 50 is under the 100. Price was under the 50 today at open, but appears to have barely gotten over the 50 right this second with the top of a candle body. This could change by close today. It is always a good thing to have price over the 50 day moving average if you are long. The 20 is sloping up and the 9 is a bit above the 20 which is good. The moving averages need improvement and in a perfect world, it is best to have the 200 on the bottom, then the 100 over the 200 etc. Some folks like to buy on crossovers like when the 9 crosses up and through the 20. I always have the 20 because is use bollinger bands, but everyone differs on the moving averages they use. A day trader would possibly look at shorter duration moving averages than a long term investor who would most likely concentrate on the longer term moving averages like the 50 and 200.
ENPH arced on the prior run to the top, and is usually volatile anyway if I remember correctly. Parabolic arcs, or former arcs, can be volatile for quite a while after hitting the landing pad.
No recommendation.
Buy red/sell green (o:
Bullish- long playENPH has had a nice run in the past month running up roughly 35% to fill the gap on its yearly chart (see previous chart). Could definitely see some healthy consolidation here or another move upwards. Goldman Sachs raised their price target for ENPH from $187.00 up to $202.00, EMA's curling & holding support nicely- will be looking for an entry for a long play.
(Previous)
ENPH has gotten relatively beaten down and taken a much-needed pullback. However, has held up fairly well amidst all of the intraday volatility in the markets and is now is back above its 200day SMA where it has previously found support. Needs to hold above the 200day SMA . Additionally, does look like a fishhook pattern forming, and am looking for ENPH to fill the gap circa 153-167. Bullish
PT1- $152.99
PT2- $169.10
Where is Enphase Energy Moving Next?Enphase Energy NASDAQ:ENPH is coming off an excellent month of June 2021, up over 30% and 82% YTD. Now, we sit about 30-days from earnings with the street estimating an EPS of $0.42.
Is there another period of time where ENPH faced a similar situation and chart pattern? Yes, from mid-September 2020, until mid-October 2020, ENPH ran up over 63% and reached its peaks about 30-days before earnings.
Looking back at the chart could help us understand where ENPH might be heading during July 2021.
Solar and energy storage stocks have been heating up as governments push climate agendas including possible tax credits for each stage of the solar manufacturing supply chain, tax credits for homeowners to install solar power, and other possible incentives and initiatives.
Another company that has benefitted from the current environment is Generac Holdings NYSE:GNRC . They also had an amazing month of June 2021, up over 26% and 84% YTD. Sure, with GNRC the weather plays a role as they sell many generators, but they are also ramping up on their energy storage solutions just like ENPH.
ENPH has a premium micro-inverter product and a growing energy storage business. This has given many analysts reason to place a buy rating on ENPH.
Now looking back at the chart. Comparing the two time periods, then and now, you can see that after the runup in 2020, ENPH consolidated up until earnings were released, and for about 7-days thereafter. Then, there was a spike in volume setting off a bull run that finished the year of 2020 and pushed the stock even higher into 2021. This rally set a new all-time high on January 7th, then another all-time high of $229 on February 10th (right when earnings were released).
Next, we had the great tech rotation sending any stock related to technology lower over the next 90-days. ENPH hit its low of $108 on May 11th. Since reaching the May 11th low, ENPH has climbed 73%, just another 18% and ENPH will be hitting a new ATH.
Now, here's what you came for. Where is ENPH moving next? Well, if history can be our guide, and yes, history doesn't repeat, history rhymes, then we should expect ENPH to start consolidating with a mix of green and red days until earnings. One thing on the chart that is different this time around is lower volume. Now after earnings are released it's anyone's guess. A beat on earnings could push ENPH to new all-time highs and a miss could give long-term investors a great entry point on a stock currently trading at a premium.
Now I will hand it off to you. Where do you think Enphase Energy is moving next?
1 year later. Still holding the trend?After a very good correction by more than $100, we returned to the trend again. If the trend is broken, the last support will be around $100. Buy @ $115-120, TP $170-200-220, SL $105.
ENPH - Correction is doneENPH next quarter's revenue (2021 Q2) is expected to grow 156%. The stock has done a 3 month correction over 50%. 6/10/2021 MACD crossed up 0. 6/17/2021 price broke up 3C $153 with volume increase. But, volume is not enough to break up pivot $173. If the stock pull back near 20 wma will be a good change to buy. I expect the stock will challenge previous high around $222 in 2021.
$ENPH (log chart) great buy opportunitySo far $ENPH has maintained its weekly breakout in the midst of a choppy/weak market. For me, weak markets expose the out-performers that go on to lead stocks into new uptrends. Currently $ENPH looks a lot more like the beginning of something than the end. Of course, this is a positive indicator for the whole solar sector and growth stocks as well.
Bullish- long playENPH has gotten relatively beaten down and taken a much-needed pullback. However, has held up fairly well amidst all of the intraday volatility in the markets and is now is back above its 200day SMA where it has previously found support. Needs to hold above the 200day SMA. Additionally, does look like a fishhook pattern forming, and am looking for ENPH to fill the gap circa 153-167. Bullish
PT1- $152.99
PT2- $169.10
big breakout coming to ENPH?answers yes if top trendline breaks!ENPH bounced off its longterm uptrend line and now its trying to break out of its downtrend channel! watching closely here, if its breaks my first price target is 170, second pt 200 for a swing trade! RSI still has some nice upside too.
Fish Hook Pattern ENPHLong on ENPH, if it can break through the trend line it can go to $175. Bullish MACD momentum on the daily chart.
It looks like there is a gap to fill from 153-167 as well.
$ENPH sitting at around fair price.I did a 20 year DCF analysis of $ENPH. Assuming a slowly declining revenue growth from 25% in 2021 and a solid 25% FCF margin. In my opinion, $16B is a fair price.
I will add a small amount. and will add more if we drop.
ENPH Fish Hook PatternFish Hook on ENPH, been bullish on this stock for quite some time now, just been waiting on a good entry for May 21st/June Swings.
ENPHBuy the dip? 1hr RSI oversold + Bull Div + Good earnings. Chip shorted caused by gap down but if you analyze it demand in green energy is kicking. Chip maker will not let the big buyer disappoint.
ENPH (Enphase Energy) - Bullish quarter aheadEnphase Energy, Inc. delivers microinverter technology for the solar industry, which increases productivity and reliability of solar modules. The Company builds a semiconductor-based microinverter system that converts direct current electricity to alternating current electricity at the individual solar module level. Enphase sells its microinverter systems primarily to distributors who resell them to solar installers. It also sells directly to installers, as well as through original equipment manufacturers. Enphase Energy, Inc. is headquartered in Petaluma, California.
Analysis/Commentary
Strong EPS and Sales Growth Y-on-Y
Based on the study of the previous quarterly earnings reports and subsequent price moves:
- Expectation for the price to move to LOW or MID point
- Trailing stop-loss on price above LOW point
- Bullish Heiken Ashi Candles confirm entry is close on 4hr
- Fast MACD close to cross on 4hr
We are very bullish on this stock, and see a strong uptrend, particularly if LOW TARGET reached.
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