Evaluation of Enphase Energy stock downgraded after the last trading session.
(Updated on Nov 26, 2021)
Buy or Hold candidate since 2021-10-28 Gain 10.23% PDF
The Enphase Energy stock price fell by -3.01% on the last day (Friday, 26th Nov 2021) from $255.10 to $247.42. During the day the stock fluctuated 6.31% from a day low at $243.62 to a day high of $259.00. The price has been going up and down for this period, and there has been a -1.23% loss for the last 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -68 thousand shares and in total, 1 million shares were bought and sold for approximately $364.37 million.
The stock lies in the middle of a very wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 69.85% during the next 3 months and, with a 90% probability hold a price between $361.68 and $466.95 at the end of this 3-month period.
Signals & Forecast
The Enphase Energy stock holds a sell signal from the short-term moving average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term moving average at approximately $255.89. On a fall, the stock will find some support from the long-term average at approximately $218.02. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Friday, November 19, 2021, and so far it has fallen -7.59%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss
On the downside, the stock finds support just below today's level from accumulated volume at $231.63 and $224.46. There is natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Enphase Energy finds support just below today's level at $231.63. If this is broken, then the next support from accumulated volume will be at $224.46 and $216.22.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $15.38 between high and low, or 6.31%. For the last week, the stock has had a daily average volatility of 6.94%.
Our recommended stop-loss: $232.82 (-5.90%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 4 days ago.)
Is Enphase Energy stock A Buy?
Enphase Energy holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.809
Predicted Opening Price for Enphase Energy of Monday, November 29, 2021
The predicted opening price is based on yesterday's movements between high, low, and the closing price.
|Fair opening price November 29, 2021||Current price|
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On Nov 18, 2021 "BMO Capital Markets" gave "$220.00 - $284.00" rating for ENPH. The price target was set to $254.840.0%.
ENPH Insider Trading
|Nov 23, 2021||Sell||12 932||Gomo Steven J||Non-qualified stock option (right to buy)|
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