Renewable energy technology company Enphase Energy ( ENPH) is slated to report its latest earnings figures after the close of trading Tuesday. In our October 6 review we wrote that, "Discipline is key to successful trading. Traders who are long ENPH should be stopped out. ENPH may go much higher in the future but it is the here and now we need to deal with. Stand aside and wait for another relatively low risk buying opportunity."
Let's check on the charts and indicators again. 
In the updated daily bar chart of ENPH, below, we can see that shares found buying interest around $240. ENPH stands below the declining 50-day moving average line but above the rising 200-day line.
The movement of the On-Balance-Volume (OBV) line offers promise as it only declined for a few weeks in September and early October. The longer-term pattern of the OBV line is up and tells us that buyers of ENPH have been more aggressive than sellers. The Moving Average Convergence Divergence (MACD) oscillator is crossing to the upside for a cover shorts buy signal.
In the weekly Japanese candlestick chart of ENPH, below, we can see that the shares have climbed higher over the past three years. Corrections have unfolded over the past two years that could have shaken out many traders not willing to endure deep pullbacks. The slope of the 40-week moving average line is positive.
The weekly OBV line is bullish. The MACD oscillator is above the zero line but has crossed to a take profit sell signal.
In this daily Point and Figure chart of ENPH, below, we can see a potential upside price target in the $313 area.
In this weekly Point and Figure chart of ENPH, below, we can see a potential downside price target in the $216 area.
Bottom-line strategy: I have no special knowledge of what ENPH will report to shareholders Tuesday evening. I give the upside the benefit of the doubt and traders could probe the long side of ENPH risking to $230.
