Dec. 15 at 7:36 AM
Actionable Trade Alert for
$ENPH:
Market Context:
$ENPH closed at
$32.18, showing strong momentum with an RSI of 83.78, indicating overbought conditions. The stock is trading above its 30-day MA of
$29.69 but just below its 50-day MA of
$32.17, suggesting potential resistance.
Directional Bias: Given the high RSI and proximity to the 60-day high of
$41.28, we anticipate a pullback or consolidation before any further upward movement. However, the strong bullish sentiment indicates potential for a short-term rally.
Trade Plan:
- Suggested Entry:
$32.50 (above current close to capture momentum)
- Stop Loss:
$30.00 (below 30-day MA)
- Take Profit Targets:
1.
$35.00 (10% gain)
2.
$38.00 (17% gain)
3.
$37.70 (17.8% gain)
With this plan, we aim for a minimum of 17% ROI on the third target while managing risk effectively. Monitor closely for any changes in momentum.
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