ENPH bullish setup
Enphase has a presented a solid bullish setup with 2 impulsive moves that retraced to their respective 0.618 fib level, and a breakout of the descending trendline.
A long can be taken now with a stop loss at $68.50 and price targets at $90, $100 and $115, the last being the mid point of the large consolidation range on the monthly timeframe.
A long can be taken now with a stop loss at $68.50 and price targets at $90, $100 and $115, the last being the mid point of the large consolidation range on the monthly timeframe.
Trade closed: stop reached
Price has broken back below $68.50 so this trade has been invalidated. However, should price find support around $65 it may still turn around and hold the 18 Nov low.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.