TopOptionAlert
Oct 20, 6:27 PM
$ENPH NOV20 33C · still actionable
Zone:
$31.60 to
$32.04
Invalidation: close under
$30.25
Objectives:
$34.16, then
$36.00
The math: up 7.4% to the first objective and 13.1% to the second, against 4.9% risk on the invalidation, about 2.7 to 1 to the second
Dear friend, picture a stock that got left for dead last week at 28.59 and then quietly climbed back above 30 and held it. That is the swing I like here, a washed out name bouncing off a real low with earnings on October 27 giving the move a date to work toward. What that means in plain terms is buyers are stepping in before the report instead of waiting, and a close back over 34.16 would tell us the bounce has real legs.
P.S. The first hurdle is the high from today at 32.28, and clearing it would turn a small bounce into something worth following.
0 replies
