Enphase Energy Forecast and Stock Analysis
Technical ENPH stock analysis for February 15, 2019.
Enphase Energy fell by -0.13% in the last day from $7.66 to $7.65 and has now fallen 3 days in a row. The price has risen in 5 of the last 10 days and is up by 9.29% over the past 2 weeks. Volume has increased in the last day by 0.20 million shares, but on falling prices. This may be an early warning and the risk will be increased slightly for the next couple of days. In total, 1.29 million shares bought and sold for approximately $9.87 million.
Close price at the end of the last trading day (Friday, 15th Feb 2019) of the ENPH stock was $7.65. This is 0.13% less than the trading day before Thursday, 14th Feb 2019.
During day the stock fluctuated 2.91% from a day low at $7.56 to a day high of $7.78.
30 day high of the ENPH stock price was $7.94 and low was $6.10.
90 day high was $7.94 and low was $4.53.
52 week high for the Enphase Energy - $7.94 and low - $2.37.
Enphase Energy 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 44.62% during the next 3 months and, with 90% probability hold a price between $8.74 and $12.00 at the end of this period.
Enphase Energy holds buy signals from both short- and long-term moving averages. In addition, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down there will be some support from the lines at $7.61 and $6.44. A break down below any of these levels will issue sell signals. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sales signal was issued from a pivot top point on Monday February 11, 2019, which indicates further falls until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Relative Strength Index (RSI)
The stock holds a RSI14 at 73 and is currently being overbought on RSI. This does not have to be a sales signal as many stocks may go both long and hard while being overbought on the RSI. It is therefore important to evaluate the history of the share as it may tell you something about the RSI-sensitiveness.
Support & Resistance
On the downside, the stock finds support just below today's level from accumulated volume at $7.00 and $6.82.
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 $7.00. If this is broken, then the next support from accumulated volume will be at $6.82 and $6.68.
This stock may move much during a day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.22 between high and low, or 2.91%. For the last week, the stock has had a daily average volatility of 4.21%.
Our recommended stoploss: $7.38 (-3.53%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 73 and this increases the risk substantially. There is a sell signal from pivot top found 4 days ago.)
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Evaluation: Buy Candidate
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for this stock to perform well in the short-term.