Enphase Stock Forecast
Stronger technical forecast for Enphase stock price after Friday trading.
(Updated on Mar 31, 2023)
The Enphase stock price gained 2.44% on the last trading day (Friday, 31st Mar 2023), rising from $205.27 to $210.28. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 3.07% from a day low at $205.81 to a day high of $212.13. The price has risen in 6 of the last 10 days and is up by 14.51% over the past 2 weeks. Volume fell on the last day by -277 thousand shares and in total, 3 million shares were bought and sold for approximately $582.98 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.
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The stock lies the upper part of a wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $216.33 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -15.85% during the next 3 months and, with a 90% probability hold a price between $148.91 and $182.05 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
ENPH Signals & Forecast
The Enphase stock holds buy signals from both short and long-term moving averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $201.36 and $207.18. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, March 17, 2023, and so far it has risen 14.51%. 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. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Enphase stock
Enphase finds support from accumulated volume at $209.60 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 $6.32 between high and low, or 3.07%. For the last week, the stock has had daily average volatility of 4.67%.
Our recommended stop-loss: $202.88 (-3.52%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 10 days ago.)
Trading Expectations (ENPH) For The Upcoming Trading Day Of Monday 3rd
For the upcoming trading day on Monday, 3rd we expect Enphase Energy to open at $209.41, and during the day (based on 14 day Average True Range), to move between $199.12 and $221.44, which gives a possible trading interval of +/-$11.16 (+/-5.31%) up or down from last closing price. If Enphase Energy takes out the full calculated possible swing range there will be an estimated 10.61% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $210.32 (0.02%) than the support at $209.60 (0.32%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Enphase Energy stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 3.024 Open Broker Account
Buy Candidate UpgradedPredicted Opening Price for Enphase Energy of Monday, April 3, 2023
The predicted opening price is based on yesterday's movements between high, low, and closing price.
| Fair opening price April 3, 2023 | Current price |
|---|---|
| $209.41 | $210.28 (Overvalued) |
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Trading levels for ENPH
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 215.73 | 2.59 % | |
| R2 | 213.31 | 1.44 % | ||
| R1 | 211.82 | 0.733 % | ||
| Current price: | 210.28 | |||
| Support | S1 | 206.99 | -1.56 % | |
| S2 | 205.50 | -2.27 % | ||
| S3 | 203.09 | -3.42 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 218.87 | 4.09 % | |
| R2 | 212.07 | 0.85 % | ||
| R1 | 210.32 | 0.0190 % | ||
| Current price | 210.28 | |||
| Support | S1 | 209.60 | -0.323% | |
| S2 | 208.35 | -0.92% | ||
| S3 | 183.64 | -12.67% |
FAQ
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About Enphase Energy
Enphase Energy, Inc., together with its subsidiaries, designs, develops, manufactures, and sells home energy solutions for the solar photovoltaic industry in the United States and internationally. The company offers semiconductor-based microinverter, which converts energy at the individual solar module level, and combines with its proprietary networking and software technologies to provide energy monitoring and control services. It also offers AC... ENPH Profile
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