Dec. 19 at 5:18 PM
Actionable Trade Alert for
$ENPH:
Market Context:
$ENPH closed at
$32.96, showing a strong upward trend with an RSI of 74.32, indicating overbought conditions. The stock is above its 30-day MA of
$29.91 and 50-day MA of
$31.80, suggesting bullish momentum. However, the high RSI signals potential for a pullback.
Directional Bias: Given the current price relative to the 60-day high of
$39.55 and low of
$25.78, there is room for growth, but caution is warranted due to the overbought RSI.
Trade Plan:
- Suggested Entry:
$32.50 (slightly below the last close for a better entry)
- Stop Loss:
$30.50 (to limit downside risk)
- Take Profit Targets:
1. TP1:
$35.00 (6.9% ROI)
2. TP2:
$37.00 (13.3% ROI)
3. TP3:
$38.50 (16.8% ROI)
This plan aims for at least a 17% ROI on TP3 while managing risk effectively. Monitor RSI and price action closely.
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