ENPHASE (ENPH): This Chart is Absurdly Bullish
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Enphase (ENPH) has been an absolute beast, not just in terms of its chart, but in terms of other factors like earnings. After another quarter of strong earnings, the premium the market is willing to pay for this microinverter maker makes sense. Despite some risk due to a potential slowdown in the months ahead for the industry, we think there is still room to play the uptrend. As such, all we are looking for here is enough of a pullback in price to give us a long entry.
Resource: seekingalpha.com/article/4346476-enphase-new-industry-powerhouse + fool.com/investing/2020/04/30/why-investors-are-paying-a-premium-for-company.aspx + greentechmedia.com/articles/read/enphase-and-solaredge-grapple-with-covid-19-effects-on-solar-battery-sales
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1. Fractal Trend has been showing an uptrend (Aqua bar color) on the 4 hour timeframe for almost 2 years now. There has rarely been a bad entry since then.
2. With this strategy, we are looking for long setups in an uptrend and as such want to enter long on retests of bullish order blocks plotted by Orderblock Mapping (Aqua) and/or bullish S/R levels plotted by Directional Bias (Aqua).
3. We are currently assuming the uptrend will continue, and as such are looking for a pullback to the nearest relevant support level to enter long. S1 looks like it will give us a great entry if ENPH can pullback enough to let us in.
4. This trade only has two relevant exit conditions. Either we close at our target, or we close if our stoploss is hit.
5. If for whatever reason S1 doesn't hold, we have mapped out a few other key levels to watch in the future. S2 is a good candidate for support on a deeper pullback due to the orderblock and S/R flip. S3 is the last support before the price inefficacy gap below. And S4 is a major support range that represents a final hope for Enphase bulls if S3 can't hold.
6. Lower levels aside, the idea here is simple, we are taking a stock that is in a strong uptrend, looking for a solid entry in that uptrend, and then aiming for an exit that offers a solid risk to reward ratio.
Good luck with this one gang!
Like, Comment & Follow to help the community grow 🎉🎉
---
Enphase (ENPH) has been an absolute beast, not just in terms of its chart, but in terms of other factors like earnings. After another quarter of strong earnings, the premium the market is willing to pay for this microinverter maker makes sense. Despite some risk due to a potential slowdown in the months ahead for the industry, we think there is still room to play the uptrend. As such, all we are looking for here is enough of a pullback in price to give us a long entry.
Resource: seekingalpha.com/article/4346476-enphase-new-industry-powerhouse + fool.com/investing/2020/04/30/why-investors-are-paying-a-premium-for-company.aspx + greentechmedia.com/articles/read/enphase-and-solaredge-grapple-with-covid-19-effects-on-solar-battery-sales
---
1. Fractal Trend has been showing an uptrend (Aqua bar color) on the 4 hour timeframe for almost 2 years now. There has rarely been a bad entry since then.
2. With this strategy, we are looking for long setups in an uptrend and as such want to enter long on retests of bullish order blocks plotted by Orderblock Mapping (Aqua) and/or bullish S/R levels plotted by Directional Bias (Aqua).
3. We are currently assuming the uptrend will continue, and as such are looking for a pullback to the nearest relevant support level to enter long. S1 looks like it will give us a great entry if ENPH can pullback enough to let us in.
4. This trade only has two relevant exit conditions. Either we close at our target, or we close if our stoploss is hit.
5. If for whatever reason S1 doesn't hold, we have mapped out a few other key levels to watch in the future. S2 is a good candidate for support on a deeper pullback due to the orderblock and S/R flip. S3 is the last support before the price inefficacy gap below. And S4 is a major support range that represents a final hope for Enphase bulls if S3 can't hold.
6. Lower levels aside, the idea here is simple, we are taking a stock that is in a strong uptrend, looking for a solid entry in that uptrend, and then aiming for an exit that offers a solid risk to reward ratio.
Good luck with this one gang!
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