Enphase Energy stock slips again, trend losing steam
Enphase Energy stock sheds 4.6% as the ADX fades for an 11th week
Our view last week
After last week's 11.5% rebound, Enphase Energy stock gives ground again: this week the stock slips 3.3%, with 84% of volume on the sell side and a daily candle fully engulfing the prior bullish bar. The weekly MACD slides below zero, yet the ADX keeps falling too: the trend keeps losing conviction even as price retreats. The short, open for nine weeks, is now more than 25% in profit.
This week's summary
On Enphase Energy stock the decline keeps going: the stock sheds another 4.6% this week, with sellers still dominating the volume. What stands out more, though, is different: the ADX has now been fading for 11 straight weeks, a sign the trend keeps losing conviction even as price falls. Momentum, meanwhile, has slowed its descent for a 2nd week running. The short trade, open for 10 weeks, is now up more than 29%.
IQS Phase
78
in tension
Signal Strength
31
decline starting to make lower lows
Sizing
REDUCED
Ranking
#42 / 93
US stocks
Trade P&L %
+29.27%
from signal to date, no stop loss
Rank position
ranks 42nd among the 93 sell signals for US stocks in our ranking, with a signal strength of 31 out of 100.
Sector context
SectorGrowth Tech
Benchmark ETFXLK
Sector regimeweak phase
Performanceweekly -3.53% · monthly +1.69%
ENPH belongs to the growth tech sector (reference ETF XLK). The sector is classified weak phase according to our weekly reading.
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