$ENPH:Clean energy stock and messy chart. Short squeeze incoming

The clean energy stocks are in a serious drawdown. ENPH has a very messy stock. The stock has seen almost 88% of its value wiped out over the last 2 years. But is it the end of clean energy and stocks? With the new administration in place the clean energy stock has been in a bearish pattern.

In terms of the drawdown the stock looks the same as $CVNA. At its lowest CVNA had 98% drawdown. ENPH is down 90% and maybe it must go through a similar drawdown then the price must drop down to 10$.

Currently 21% of the ENPH shares are sold short, and the short interest ratio is 3.77. These numbers indicate that there might be a danger of short squeeze with 21% of the shares sold short and it might take 4 days for the shorts to cover the positions. This is more than the current short squeeze candidate $OPEN. But is this a good time to buy?

In my opinion the price of ENPH has some more room to downside. Out target is with price between 20$ - 10$ we can go long ENPH

Verdict: More downside possible in $ENPH. Go long between 20$ -10 $. 21% Short interest.