Continuing Bear Trend for ENPHAfter forming an ascending triangle ENPH made a lower high and broke the upward sloping support. After the break, it followed through with a back test of what was once support, turned into resistance. These are signs that the trend will continue to be bearish or sideways at best. the target is $73.71USD where it pivoted to make the previous local bottom.
ENPH trade ideas
ENPH Enphase Energy Options Ahead of EarningsIf you haven`t sold ENPH before the previous earnings:
Then analyzing the options chain and the chart patterns of ENPH Enphase Energy prior to the earnings report this week,
I would consider purchasing the 110usd strike price in the money Puts with
an expiration date of 2024-9-20,
for a premium of approximately $16.20.
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
ENPH Short the Trend1) Targets:
#1 TP - $94
#2 TP - $75
#3 TP - $36
#4 TP - $14
#5 TP - $7
#6 TP - $2
2) Revenues are falling due to current conditions in solar industry. Look at peer companies (either layoffs or reorganizations). Most of the analysts revised targets downward.
3) We are in downtrend. Don't fight it, just follow it. As of now there are no indications of trend reversal.
4) RR 1:3 apply. Accept if you are wrong.
5) Trading below 200/50 averages.
Do your own analysis before making trading decisions. These are just my thoughts and not trading/investment recommendations.
Enphase Energy forms alliance with Octopus Energy to boost salesEnphase Energy Inc., a leading provider of solar energy solutions, has recently established a strategic partnership with Octopus Energy Group to enhance its sales. This collaboration is expected to drive significant future revenue growth for Enphase Energy by integrating its solar inverters and battery systems with Octopus's Kraken platform, which manages virtual power plants. This synergy aims to harness multiple home solar panels and batteries, integrating them into a cohesive and sustainable power generation system through smart distribution technologies.
Analysing potential trading opportunities for Enphase Energy Inc. (NASDAQ: ENPH):
On the Daily (D1) timeframe, the stock shows resistance at 114.40 USD and support at 106.00 USD, with early signs of an uptrend. A break above the current resistance level could further confirm this uptrend. If the price fails to do so and continues its downward trajectory, a potential target could be 360.50 USD.
For traders, surpassing the resistance at 114.40 USD could present a buying opportunity, with a short-term target set at 139.50 USD. Those contemplating a medium-term investment may consider holding a long position to reach up to 152.60 USD.
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ENPH downward trend may be breakingThere's a fair amount of risk, but I am willing to give a long a try. I like ENPH as a leader in solar technology, and I believe that there are years of growth ahead for that industry. After several years of consistently negative ROIC, things started to turn around for the company in 2019. Management telegraphed a difficult environment for 2024. So, I fully expect some turbulence ahead, but the stock is still down by almost 2/3 from its ATH. If the company can maintain the profitability of the last few years going forward, then the current price is a great deal.
Enphase - Wave AnalysisHi All,
I’ve been looking at this chart for weeks and I can’t help but post a contrarian idea that NASDAQ:ENPH may actually be going down, at least from a wave perspective. Now I could be completely wrong and the MACDs point mildly upward (and maybe we are in a wave 3 up which could launch Enph if it ever passed $140 thus invalidating this idea) but from a different wave perspective I can’t help but shake we are going down.
Let’s assume I’m right for a moment which I would take with a grain of salt, but it is conceivable we just completed or near completed a wave 2 at the 0.382 around $130.50 and then we got a small push downward on Friday, I’m considering if we are starting a wave 3 downwards soon if not already. And I’ve watched the corrective motion from late feb from $119ish to now $130ish and it had likely completed a 5 wave motion as seen in many mini C waves of a wave 2.
I’ve also highlighted 3 gaps in the chart which I don’t like and they should be filled in an optimal sense at some point in time. The waves listed would fill at least 2 or 3 of the gaps. It’s hard for me to make a post like this, when sentiment is opposite, but either way we’ll know in a few days likely. GLTA
ENPH - ready for a take off?ENPH is quite a volatile stock. It’s been a multi-bagger since the 2020 elections.
This has been hammered lately and looks like bottomed out.
Recent uptick in volume showing signs of recovery.
Long - around 100ish
Stop loss - 85
Target #1 - 175
Target #2 - 230
So much of supply ahead, won’t be a smooth ride.
And note- this one has political risk as well.
Manage your risk and position size carefully.
ENPH FALLING WEDGE ON WEEKLY (NEEDS TIME TO DEVELOP)I love the setup here on NASDAQ:ENPH as well. We got long around $79 back on first couple days of November, I think it's only just getting started.
Over 94 target 101.51-106.19.
Over 107 target 120(Gap fill 115.56)
With some more time i think it could also retest 156
Enphase Energy's Strategic Moves Signal a Brighter FutureEnphase Energy (NASDAQ: NASDAQ:ENPH ) stands as a beacon of innovation and resilience. Despite facing headwinds in the form of inventory issues and shifting market dynamics, the solar inverter maker is charting a course towards a brighter future. We delve into Enphase's recent developments, strategic shifts, and the prospects that lie ahead.
Navigating Short-Term Challenges:
Enphase Energy (NASDAQ: NASDAQ:ENPH ) recently announced its anticipation of an improvement in demand in the near term, sparking a surge in its shares by nearly 13% in extended trading. The company acknowledges the hurdles it faced in Europe, with a significant sequential decrease in revenue in the fourth quarter due to inventory management issues. However, Enphase (NASDAQ: NASDAQ:ENPH ) remains optimistic, citing early signs of recovery in Europe and the potential for a rebound in non-California states.
Adapting to Market Dynamics:
Solar firms, including Enphase, have encountered obstacles such as rising inventory levels in Europe and softening demand in the U.S., attributed in part to regulatory changes like the metering reform in California. Enphase's response to these challenges involves strategic adjustments, including reducing shipments to manage inventory levels and focusing on enhancing demand and margins for its batteries and micro-inverters throughout 2024.
CEO's Vision and Guidance:
Enphase's (NASDAQ: NASDAQ:ENPH ) Chief Executive, Badri Kothandaraman, paints a picture of cautious optimism, acknowledging the slowdown in demand while expressing confidence in the company's ability to navigate through it. Kothandaraman highlights the potential turnaround, citing early signs of recovery in Europe and the expected resilience of non-California states. Despite forecasting a seasonally down sell-through demand for the first quarter, Enphase (NASDAQ: NASDAQ:ENPH ) sets its sights on a revenue range of $260 million to $300 million, indicating a proactive stance in managing expectations.
Analyst Expectations vs. Performance:
Enphase's (NASDAQ: NASDAQ:ENPH ) fourth-quarter revenue slightly fell short of analysts' expectations, standing at $302.6 million compared to the anticipated $327.9 million. The company's first-quarter revenue forecast also falls below analysts' estimates, but Enphase (NASDAQ: NASDAQ:ENPH ) remains steadfast in its strategic direction, focusing on operational excellence and seizing opportunities for growth amidst challenges.
Conclusion:
Enphase Energy's (NASDAQ: NASDAQ:ENPH ) journey exemplifies the resilience and adaptability required to thrive in today's dynamic energy landscape. Despite short-term challenges, the company's strategic maneuvers, coupled with the vision of its leadership, signal a promising trajectory ahead. As Enphase (NASDAQ: NASDAQ:ENPH ) navigates through the current headwinds, it emerges as a compelling player poised to capitalize on the opportunities that lie beyond. Investors and industry observers alike would do well to keep a keen eye on Enphase Energy as it continues to shape the future of renewable energy.
ENPH has a revenue problemEarnings today were deemed by wall street as "good enough".
That may be true, and the stock may be up today, but Revenue dropped 58% to $302.6 million, from $724.6 million a year ago.
--> Since revenue has started declining, the stock is down.
Market estimates expect a decline in revenue in 2024 vs 2023, so unless the correlation changes, or unless the company announces expected increases in revenue, this is one I'd avoid.
ENPH Enphase Energy Options Ahead of EarningsIf you haven`t sold ENPH before the previous earnings:
Then analyzing the options chain and the chart patterns of ENPH Enphase Energy prior to the earnings report this week,
I would consider purchasing the 102usd strike price at the money Puts with
an expiration date of 2024-2-9,
for a premium of approximately $7.65.
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
Enphase Energy - ENH (MAGS) - LongLooks like Enphase is reaching a Wyckoff accumulation phase with channel resistance helping to direct price into the accumulation schematic.
Spring could bounce off resistance turned into support.
Price to seek imbalance at the gap around 0.618/golden fib zone.
This target zone coincides with a line of best fit/trend line through Daily price chart
Enphase Energy $ENPH Trade IdeaLast Friday I entered a new trade on NASDAQ:ENPH as we closed above the 50MA on daily candles.
The trade is profitable for now, my target is $124 in the short term and we might see a pullback over the next few days as the oscillators are showing overbought conditions.
We can also see the diagonal resistance level that has been in force for some time now, which lines up to that $124ish target.
In addition we could see the price fill the bullish gap quickly.
One thing to note is that MACD has crossed above the 0 line which might suggest continuation of the bullish momentum.
The moving averages are starting to slope up which also points to a potential further bullish momentum.
If the price pulls back to the 50MA I will likely add more contracts to this trade.
Hope this was helpful, follow me for more trade ideas.
Thank you,
BK