Nov. 21 at 4:09 AM
$ENPH is currently trading at
$26.12, near the 60D low of
$26.08, indicating potential support. The RSI at 36.41 suggests the stock is nearing oversold conditions, which may lead to a reversal. The 30-day MA at
$32.58 and the 50-day MA at
$34.52 are both above the current price, indicating a bearish trend in the short to medium term.
Given the market context, the directional bias leans towards a potential short-term bounce due to the proximity to the low and oversold RSI. Suggested entry is around
$26.20, with a stop loss at
$25.50 to manage risk. Target 1 could be set at
$28.00, aligning with the psychological resistance level, and Target 2 at
$30.00, near the 30-day MA. Monitor price action closely for any changes in momentum.
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