$ENPH In Uptrend Channel?

Oct 2

Enphase has been basing for about 10 months after a severe selloff in 2023. That base has been wide and loose until the June – July timeframe where it has tightened up and appears to have established an uptrend channel.

I will be looking for a reversal in the coming days to weeks as it is likely that it will head back to the top of the channel. Should it start moving up from here, it could be about a 17% move back to the top of the channel. All TBD. Maybe this one should be on your watchlist as well.

Note that earnings are coming up in 3 weeks. Maybe it rallies in front of that event?

Oct 2

Trade active

I opened a starter position as it seems to have bounced off the lower channel trendline. Stop id LOD. Let's see what happens.

Oct 4

Trade closed: stop reached

It's Friday and ENPH has breached the bottom of the channel. I would usually give it to end of day but looking at the 5 minute chart, it seems the selling is going to continue. I have lost $5.12 per share which is about 4.5%. It's going back on the watchlist. Lets see what it does next week.

Oct 4

Note

Here's the 5 minute chart.