Enphase Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Evaluation of Enphase stock downgraded after the last trading session.
(Updated on Apr 26, 2024)
The Enphase stock price gained 3.80% on the last trading day (Friday, 26th Apr 2024), rising from $107.83 to $111.93. During the last trading day the stock fluctuated 5.40% from a day low at $109.56 to a day high of $115.47. The price has been going up and down for this period, and there has been a -4.35% loss for the last 2 weeks. Volume fell on the last day by -2 million shares and in total, 6 million shares were bought and sold for approximately $638.34 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -3.43% during the next 3 months and, with a 90% probability hold a price between $102.46 and $128.12 at the end of this 3-month period.
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ENPH Signals & Forecast
There are mixed signals in the stock today. The Enphase stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $114.92. On a fall, the stock will find some support from the short-term average at $109.51. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 5.12%. Further rise is indicated until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.
Support, Risk & Stop-loss for Enphase stock
Enphase finds support from accumulated volume at $107.83 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 $5.92 between high and low, or 5.40%. For the last week, the stock has had daily average volatility of 7.64%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ENPH) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Enphase Energy to open at $112.32, and during the day (based on 14 day Average True Range), to move between $105.00 and $118.86, which gives a possible trading interval of +/-$6.93 (+/-6.20%) up or down from last closing price. If Enphase Energy takes out the full calculated possible swing range there will be an estimated 12.39% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $107.83 (3.66%) than the resistance at $116.88 (4.42%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Enphase Energy stock A Buy?
Enphase holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -1.423 Sell Candidate Downgraded
Predicted Opening Price for Enphase Energy of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| $112.32 ( 0.347%) | $111.93 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ENPH
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 118.23 | 5.63 % | |
| R2 | 115.97 | 3.61 % | ||
| R1 | 114.58 | 2.37 % | ||
| Current price: | 111.93 | |||
| Support | S1 | 110.06 | -1.67 % | |
| S2 | 108.66 | -2.92 % | ||
| S3 | 106.40 | -4.94 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 128.90 | 15.16 % | |
| R2 | 117.51 | 4.99 % | ||
| R1 | 116.88 | 4.42 % | ||
| Current price | 111.93 | |||
| Support | S1 | 107.83 | -3.66% | |
| S2 | 107.17 | -4.25% | ||
| S3 | 97.80 | -12.62% |
FAQ
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