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:
