A lot of confluence here on ENPH, a leader in the solar energy group:
- Trend line retest
- Bounce off the 200dma
- Gap filled and bullish engulfing on the daily
- Horizontal support tagged
Watch for a base to build as it tries to clear overhead resistance that's still ahead - on the daily it's still below the 10,20,50 moving averages, so it's likely to remain choppy even if it bounces from this level. I like that it's retesting its power earnings gap from late October - something to watch from here.
Last analysis on ENPH:
- Trend line retest
- Bounce off the 200dma
- Gap filled and bullish engulfing on the daily
- Horizontal support tagged
Watch for a base to build as it tries to clear overhead resistance that's still ahead - on the daily it's still below the 10,20,50 moving averages, so it's likely to remain choppy even if it bounces from this level. I like that it's retesting its power earnings gap from late October - something to watch from here.
Last analysis on ENPH:
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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.