(This is not financial advice)
Hey guys quick energy play on Enphase here. Energy was the biggest winner of this week as I expected and ENPH is one of the biggest companies in this area. ENPH did have a nice run up this week running up over 4% gain from week open to week close but I still see good room for growth. ENPH came out of bullish triangle and is now using old resistance as new support. With the Fib Retracement we have our next price target at 176 completing our W pattern that has been forming as well. If the energy sector continues to boost it could easily push past this as well but otherwise you could just take your profits earlier. This trade will allow for at least a 8% gain and in my opinion even more. All of these things combined with the RSI the EMA's and all other things allow me to be pretty bullish on ENPH.
If you agree or disagree with his idea be sure to let me know in the comments and like and follow.
Thanks!
- Vlaire
Hey guys quick energy play on Enphase here. Energy was the biggest winner of this week as I expected and ENPH is one of the biggest companies in this area. ENPH did have a nice run up this week running up over 4% gain from week open to week close but I still see good room for growth. ENPH came out of bullish triangle and is now using old resistance as new support. With the Fib Retracement we have our next price target at 176 completing our W pattern that has been forming as well. If the energy sector continues to boost it could easily push past this as well but otherwise you could just take your profits earlier. This trade will allow for at least a 8% gain and in my opinion even more. All of these things combined with the RSI the EMA's and all other things allow me to be pretty bullish on ENPH.
If you agree or disagree with his idea be sure to let me know in the comments and like and follow.
Thanks!
- Vlaire