E0P trade ideas
ENPH - Continued DowntrendLooking to meet the .5 retracement going into earnings. Unless they have some outstanding news I don't see this momentum dying in the current conditions after the rally solar has had. Watching this into next week to enter on any pops. RSI looks to be oversold but has room for continuation down to around 14ish (D, 14) while the trailing 24 MA on RSI continues to trend down. MACD also showing continued strength down.
ENPH: Pull Back + Bounce + Active Level RetestBig Picture:
Earnings coming up 10/25/22. Had good Earnings last time. Coming back into aggressive buying from July and last earrings period. (Will the buyers want to fight for the price a little bit now before earnings?)
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Setups:
07/20/22 - 07/27/22: ENPH broke out out from a volume accumulation + Aggressive Buying
08/02/22 - 09/06/22 Volume Accumulation
09/15/22 - 09/21/22 Volume Accumulation
09/22/22 Aggressive Selling
09/26/22 - 10/04/22 Volume Accumulation
10/05/22 - 10/07/22: Aggressive Selling
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Intraday Technical:
ATR: 16.13
ATR (200Day): 14.42
DTR: 16.95
%: 105.00%
RVOL: 0.82
Rel Vol (Finviz): 0.75
RSI (14 Day): 30.64
RSI (200 Day): 52.51
Volume: 2,884,739
AvgV: 3.83M
Ch% (FINVIZ): -4.35%
FS%: 3.31%
Shs Outstanding: 135.20M
Shs Float: 132.68M
Inst Own: 75.10%
2 Day VWAP: 244.6
Weekly VWAP: 250.33
Monthly VWAP: 263.01
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10/13/22
Open: 248.73
HOD: 254.21
LOD: 237.26
Close: 244.59
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Key Areas of Support:
216.82
230.14
245.49
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Key areas of Resistance:
257.08
283.43
295.02
315.29
Inflection Point:
245.35
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Trade Plan:
Look for a pull back to 237.64
If pulls back to 237.64 and see absorption then start long.
If blow through VWAP then Cover and look to add back in a pull back. If add in pull back this is a new trade and make sure to cover this new add at the next neck line.
If hits PT 2 then look for a pull back with absorption and add. Then sell this Add right into the above neckline.
Take original trade to PT 3 and sell
Risk/Reward: 20% of ATR $2.88
Entry: $237.64
Stop $234.76
Exit: $249.18
PT 1: $240.52
PT 2: $243.41
PT 3: $246.29
PT: 4 $249.18
ENPH will die a horrible deathHey, ENPH is a done stock. I can't say when exactly it will fall, but I've long speculated solar is the most bearish sector looking to year-end because it has so much room to fall; nothing has changed. Keep an eye on this name, it's going to fall, hard. I'd only ever look for short opportunities on this name; don't even think about buying this one long- even for a bounce.
For reference, this name moves with SEDG. Look how far down SEDG is... ENPH has a lot of catching up to do to the downside.
ENPH doing W3 with a bullflag to 387, then W5 to 498?ENPH has been on a staircase to heaven fueled by the govt support on solar energy & the current supply
chain crisis on crude oil & natural gas.
The near term destination of the bullflag will be 387. After that a wave 4 correction may follow before the
final leg up to 498 for wave 5.
Not trading advice
ENPH - totally fascinatedMonths ago, ENPH was highlighted, and since then it has been captivating... particularly this two weeks where this appears to be one that stands out.
In the weekly chart (left panel), where the SPY is overlaid in dark blue, ENPH is clearly less correlated and in recent weeks moved opposing to the general market and seems to be keeping to its projected course for the upper target.
Candlestick patterns are rather bullish, closing at the weeks' high, and technical indicators are supportive.
In the daily chart, it similarly does look somewhat bullish by candlesticks, and the RPM is aligned, while the MACD is a tad weak. Price had broken out of the flag, and appears to have retested successfully as well.
Noted that I just learnt how to set up the Gann Box properly and it seems interesting that on time did the bounce to breakout occur.
Side note, although not shown here, the hourly chart looks enticing too. *wink*
Overall, ENPH appears to be able to push for further highs. One of the very few leads I am keeping a close eye on.
Read more about Enphase here as they develop and manufacture solar micro-inverters, battery energy storage, and EV charging stations primarily for residential customers.
Solar stocks setting up today (13 Sep)Going into US CPI today, a handful of solar stocks are setting up to breakout higher. The sector has shown high relative strength, and one of the leaders in the sector is Enphase (ENPH). Broke out from 5-week flag on 7-Sep, and breakout level held after retests in last 2 days.
9/11/22 ENPHEnphase Energy, Inc. ( NASDAQ:ENPH )
Sector: Electronic Technology (Semiconductors)
Current Price: $305.70
Breakout price trigger: $309.30
Buy Zone (Top/Bottom Range): $296.25-$264.35
Price Target: $419.30-$446.00
Estimated Duration to Target: 223-230d
Contract of Interest: $ENPH 2/17/23 340c
Trade price as of publish date: $40.50/contract