Nov. 15 at 1:17 AM
$ENPH is currently trading at
$28.91, below its 30-day moving average (MA30) of
$34.12 and 50-day moving average (MA50) of
$35.6, indicating a bearish trend. The RSI at 32.45 suggests the stock is oversold, potentially signaling a reversal opportunity. The 60-day high of
$41.28 and low of
$28.64 establishes a range, with current prices near the lower end, which may attract buyers.
Directional bias is bearish due to the price being below key moving averages, but an oversold RSI indicates a possible short-term bounce.
Suggested trade plan:
- Entry:
$29.00 (slightly above last close for confirmation)
- Stop:
$27.50 (to limit losses below recent support)
- Target 1:
$32.00 (near MA30)
- Target 2:
$34.00 (near MA50)
This plan allows for a potential rebound while managing risk effectively.
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