ENPH trade ideas
ENPH could go either way soon: Clues to watch for nowBullish and bearish possibilities, but I'm a Buyer for a swing trade either way. Confluence of fibs and other clues should provide direction in the next few weeks, or sooner.
Near Term Bearish possibility : if price breaks $95.21 local low, confluence of support at $76-$78, and gap fill. Seasonality and possible Bearish Gartley formation support lower print before higher.
Near Term Bullish possibility : Should $95.21 low hold, a measured move prints around $181, which is also a 1.62 extension of the move up from $73 to $141, and a retest of Apr 2023 broken market structure.
Potential Bear Flag in EnphaseEnphase Energy has drifted sideways for almost a year, and some traders may think a long-term downtrend is resuming.
The first pattern on today’s chart is the drop after prices stalled at the December high near $140. That false breakout is a potentially bearish signal.
ENPH proceeded to slide below $100. It next bounced and retraced about half the decline, which may confirm its direction has turned lower.
Third, a series of lower highs since early July may be viewed as a bearish flag. The solar stock closed below the line on Friday. Has a breakdown begun?
Finally, several simple moving averages (SMAs) are more or less on top of each other. That compression, which results from the long period of sideways movement, could potentially give way to another period of volatility.
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ENPH Weekly/Monthly Analysis!1)I applied 2 moving averages on prices which have 5 period(red one) 20 period(green one) have cut each other and we got buy sign this week because we had to wait at the end of this week's closing candlestick on prices.
2) Also i have drawn resistance lines on prices and they have been broken this week with green candlestick. This is another buy sign.
3) RSI indicator has broken its resistance line this week and it will increase soon in my opinion. Also its 2 moving averages which are purple and green have cut each other.
4) Momentum has broken its resistance line this week. Also i applied SMA(8 period) on Momentum indicator. Momentum cut above its moving average and it is another buy sign.
5) MACD lost its strong down trend power as you saw. As i showed you on indicator, red bars are going sideways not going down showed us maybe reversal trend can occur.
ENPH Enphase Energy Options Ahead of EarningsIf you haven`t sold ENPH after the Double Dop:
Now analyzing the options chain and the chart patterns of ENPH Enphase Energy prior to the earnings report this week,
I would consider purchasing the 115usd strike price Calls with
an expiration date of 2024-7-26,
for a premium of approximately $3.40.
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
Enphase WholeSaleENPH has been in a stage 4 decline with the weekly chart showing an incredible accumulation sequence within the range of $72-$167… And after a stage 4 we roll back into a stage 1 and uptrend up to through stage 2 incline with stage 3 looking like a top of $226-$320 … Price is currently below the 200 EMA with signs of being undervalue or at its wholesale level.
Long $ENPH till day after earnings report July 24.There’s is a huge lift for all battery and renewable energy companies right.
For example, META hired Evercore EVR, to the tune of $54B to build out 11 square mile solar powered data storage facilities for its push into A.I., which requires a lot of energy to run AI.So there’s a ton of money from the large cap MAG 7 companies going into this industry right now.
Based on the volume profile and the fib levels already breached, i would easily believe if ENPH just slightly beats rev & earnings, and has decent guidance.
ENPH - Enphase Energy - Long ideaDear traders,
Id like to share this idea in order to take long positions, basically the price is in a bullish flag pattern, Solar Companies will benefit from interest rate cuts, it is time to start thinking about it.
110- 120$ is is a good price range to look for buying opportunities.
best,
$ENPH $140 target achievable ? NASDAQ:ENPH starting to move off here as seasonality kicks in as for all the major solar names. It is breaking out of daily resistance and closed above last Friday. Targeting $140 which is major overhead resistance. Also it is nearing volume gap above ranging from $127~$130.