Enphase: the short trade keeps gaining ground
Enphase drops 7.3% and retests June's double bottom
Enphase: the short trade keeps gaining ground
Our view last week
Enphase technical analysis: after two brutal weeks (-9.5% and -9.0%), the stock bounced 4.1% this week with buyers suddenly in charge, 70% of volume on the buy side. Underneath, though, the decline is losing steam: the ADX has fallen for a fourth straight week, momentum has nearly halved, and the weekly MACD just crossed bearish. The short remains solidly in profit, above 17%, while the first signs of fatigue show up.
This week's summary
Enphase is giving ground again: down 7.3% this week, with 72% of volume on the sell side. The 4.1% bounce from a week ago proved short-lived, and price is back near June's double bottom in the 40 area. Underneath, though, the selling push keeps fading: ADX, momentum and money flow have all been sliding for weeks. The short remains solidly in the money, above 23%.
IQS Phase
61
ordinary
Signal Strength
38
decline starting to make lower lows
Sizing
REDUCED
Ranking
#76 / 140
US stocks
Trade P&L %
+23.85%
from signal to today
restricted Platinum content