• Subscribe
  • Log In
  • Home
  • Daily Diary
  • Asset Class
    • U.S. Equity
    • Fixed Income
    • Global Equity
    • Commodities
    • Currencies
  • Sector
    • Basic Materials
    • Consumer Discretionary
    • Consumer Staples
    • Energy
    • Financial Services
    • Healthcare
    • Industrials
    • Real Estate
    • Technology
    • Telecom Services
    • Transportation
    • Utilities
  • Latest
    • Articles
    • Video
    • Columnist Conversations
    • Best Ideas
    • Stock of the Day
  • Street Notes
  • Authors
    • Doug Kass
    • Bruce Kamich
    • Jim Cramer
    • Jim "Rev Shark" DePorre
    • Helene Meisler
    • Jonathan Heller
    • - See All -
  • Options
  • RMPIA
  • Switch Product
    • Action Alerts PLUS
    • Quant Ratings
    • Real Money
    • Real Money Pro
    • Retirement
    • Stocks Under $10
    • TheStreet
    • Top Stocks
    • Trifecta Stocks
  1. Home
  2. / Investing
  3. / Stocks

Here's When Enphase Energy Could Be a Buy Opportunity

The shares have made a great advance over the past 12 months.
By BRUCE KAMICH
Oct 28, 2020 | 01:03 PM EDT
Stocks quotes in this article: ENPH

Enphase Energy Inc. (ENPH) was upgraded to a buy by TheStreet's Quant Ratings service Wednesday. Regular readers of Kamich's Korner know that I do not mind combining investment approaches -- quantitative or even fundamental at times.

On August 28 we reviewed the charts of ENPH and recommended to take profits. The shares did correct into early September but have since soared to new heights.  

Let's check out the charts again. 

In the daily bar chart of ENPH, below, we can see that the shares have made a great advance over the past 12 months. Nearly $100 per share -- the kind of move where we wished we owned more shares. Prices are above the rising 50-day moving average line and the rising 200-day moving average line.

Trading volume has been on the light side, which is not comforting but the On-Balance-Volume (OBV) line has moved up telling us that buyers of ENPH have been more aggressive. The Moving Average Convergence Divergence (MACD) oscillator has crossed to the downside for a take profits sell signal. 

 
 
In the weekly bar chart of ENPH, below, we can see a parabolic advance over the past three years. Prices are well above the rising 40-week moving average line and were briefly double the line.
 
The OBV line has not been able to move above its May high and thus has diverged from the price action. The MACD oscillator has begun to narrow. 
 
 
In this daily Point and Figure chart of ENPH, below, we can see that the software is projecting a possible decline to the $68-$67 area. 
 
Not pretty. 
 
In this weekly Point and Figure chart of ENPH, below, we can see a potential upside price target in the $225 area. 
 
 
 
Bottom-line strategy: Weakness in the broader market could drag ENPH down to key support around $80 where traders could consider a new long position.
 
Get an email alert each time I write an article for Real Money. Click the "+Follow" next to my byline to this article.

Employees of TheStreet are prohibited from trading individual securities.

TAGS: Investing | Stocks | Technical Analysis | Energy | Technology | Quant Ratings

More from Stocks

Time to Consider Making a Withdrawal From Webster Financial

Paul Price
Mar 3, 2021 7:00 AM EST

I typically tell you when I see opportunities to get into, not out of, stocks, but this one appears to be getting overvalued.

Complacency Is High ... and So Are New Lows

Helene Meisler
Mar 3, 2021 6:00 AM EST

I have something to fuss over, so let's look at these new lows on Nasdaq and the New York Stock Exchange.

Dreary Market Action Disappoints

James "Rev Shark" DePorre
Mar 2, 2021 4:40 PM EST

Big-cap tech names slip into the red and pockets of momentum become harder to find.

A 'Simple' Way to Play for the Rally to Resume

Mark Sebastian
Mar 2, 2021 3:23 PM EST

I believe we are heading to new all-time highs, potentially this week.

Is Ralph Lauren Stock Sharply Dressed?

Bruce Kamich
Mar 2, 2021 3:10 PM EST

The pace of RL's advance has slowed.

Real Money's message boards are strictly for the open exchange of investment ideas among registered users. Any discussions or subjects off that topic or that do not promote this goal will be removed at the discretion of the site's moderators. Abusive, insensitive or threatening comments will not be tolerated and will be deleted. Thank you for your cooperation. If you have questions, please contact us here.

Email

CANCEL
SUBMIT

Email sent

Thank you, your email to has been sent successfully.

DONE

Oops!

We're sorry. There was a problem trying to send your email to .
Please contact customer support to let us know.

DONE

Please Join or Log In to Email Our Authors.

Email Real Money's Wall Street Pros for further analysis and insight

Already a Subscriber? Login

Columnist Conversation

  • 06:05 PM EST PAUL PRICE

    Michael's (MIK) Up on Takeover Rumors

    The NYT says talks are underway regarding a buyout...
  • 08:09 AM EST GARY BERMAN

    Monday Morning Fibocall for 3/1/2021

    Always a good idea to know where our bounce zones ...
  • 11:51 AM EST REAL MONEY

    Watch Bob Lang and Doug Kass Discuss Short-Selling!

    Bob Lang and Doug Kass with an engaging and educat...
  • See More

COLUMNIST TWEETS

  • A Twitter List by realmoney
About Privacy Terms of Use

© 1996-2021 TheStreet, Inc., 225 Liberty Street, 27th Floor, New York, NY 10281

Need Help? Contact Customer Service

Except as otherwise indicated, quotes are delayed. Quotes delayed at least 20 minutes for all exchanges. Market Data & Company fundamental data provided by FactSet. Earnings and ratings provided by Zacks. Mutual fund data provided by Valueline. ETF data provided by Lipper. Powered and implemented by FactSet Digital Solutions Group.

TheStreet Ratings updates stock ratings daily. However, if no rating change occurs, the data on this page does not update. The data does update after 90 days if no rating change occurs within that time period.

FactSet calculates the Market Cap for the basic symbol to include common shares only. Year-to-date mutual fund returns are calculated on a monthly basis by Value Line and posted mid-month.

Compare Brokers

Please Join or Log In to manage and receive alerts.

Follow Real Money's Wall Street Pros to receive real-time investing alerts

Already a Subscriber? Login