Enphase (ENPH) is a large cap leader in the solar/clean energy sector and is one of our top technical ideas coming into this week.
The solar sector and clean energy has been a focus group for us over the last few months and we believe that the group is well positioned here and Enphase is a top technical idea.
ENPH is in a technical uptrend above the rising 20, 50, 100 and 200-day moving averages, indicating an uptrend on multiple time frames.
The stock recently corrected 14.9% off of all-time highs and held at the rising 20-sma and the key $190 breakout/support level.
ENPH is trending higher here and a close over $220 could signal a breakout to new highs.
Larry is the publisher of the Blue Chip Daily Trend Report.
The author has a long position in $ENPH at the time of publication. Any opinions expressed herein are solely those of the author, and do not in any way represent the views or opinions of any other person or entity.
Edited at January 26, 2021 6:43pm to clarify that the author has a position in this stock.