ENPH - a long energy trade LONGENPH is in the energy sector which has been strong in the past couple of weeks.
On the 2H chart over the past two years visible, ENPH is just above its support.
It is about 50% below its pivot highs of 9-12 months ago and in a parallel
descending channel. I believe that ENPH is now set up for a 50% retracement of
the Fibonacci type. Fundamentally, two or more good earnings reports is
certainly reassuring as is the present sector trend. I have drawn in horizontal
levels/lines for targets. I will take a stock trade long and investigate a 6 month
duration options contract as well. Please comment if you are interested in
those details.