ENPH Enphase Energy got electric charged!
Updated
This came up on my screener... ENPH
Reading abotut it was intriguing as this was interesting as it develops, manufactures, and sells solar microinverters, energy monitoring software, and battery storage products. Given the expected surge of crude after the current retracement, and the sustainability trend, I find ENPH intriguingly positioned.
Technicals flagged it out, having taken some damage since Oct 2021. A triangle formation breakout, and retest appears to have been done and a second breakout (of a trendline) flagged it. The daily technical indicators are turning up to support the breakout.
On the news front, apparently solar stocks were given a boost with Biden's announcement where there would not be any new tariffs on solar imports for the next two years. In addition, There was authorization for Defense Production Act to help US manufacturers of solar panels, and it is expected that US solar manufacturing capacity can triple in the next two years. People would need energy management tools!
Looks delicious...
Potential upside target based on triangle breakout projections put it at 360 in Nov 2022. An interesting proposition seen in this chart.
Reading abotut it was intriguing as this was interesting as it develops, manufactures, and sells solar microinverters, energy monitoring software, and battery storage products. Given the expected surge of crude after the current retracement, and the sustainability trend, I find ENPH intriguingly positioned.
Technicals flagged it out, having taken some damage since Oct 2021. A triangle formation breakout, and retest appears to have been done and a second breakout (of a trendline) flagged it. The daily technical indicators are turning up to support the breakout.
On the news front, apparently solar stocks were given a boost with Biden's announcement where there would not be any new tariffs on solar imports for the next two years. In addition, There was authorization for Defense Production Act to help US manufacturers of solar panels, and it is expected that US solar manufacturing capacity can triple in the next two years. People would need energy management tools!
Looks delicious...
Potential upside target based on triangle breakout projections put it at 360 in Nov 2022. An interesting proposition seen in this chart.
Note
Weekly 34% explosion!
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