20.4 C
New York
Friday, May 14, 2021
spot_img

Enphase Energy, Inc. (NASDAQ:ENPH) Take Advantage of the Accelerating Shift to Renewable Energy

$ENPH #Enphase #Energy #RenewableEnergy #Stocks #USA #Nasdaq

Enphase Energy
Ticker: NASDAQ:ENPH
Price: $103.46
Recommendation: Accumulate on Dips – Long Term Hold (2026)

Enphase Energy Outlook

An A-rated solar company that recently got the full-post treatment based on its stellar performance over the past two years. And its sunny future.

California’s Enphase Energy is a market leader in solar power inverters. These are critical components needed to convert the DC power generated by a solar panel to AC power that can be fed into the electrical grid. Enphase has sold over 27 million of these.

Enphase is in the top seven companies globally for supplying solar power inverters — the top producer is China’s Huawei. We’ve already seen that solar panel market is projected to see huge growth over the next five years. That means a big spike in business for Enphase. 

In addition, existing solar panel installations are seeing demand for retrofitting with new inverters. Enphase’s latest generation are “smart” and offer advanced features like improved power conversion efficiency, system data for monitoring and tracking, and the ability to rapidly shut down a panel if needed. The company has also expanded into lucrative (and in-demand) solar inverter/battery storage packages.  

ENPH stock has posted impressive 455% growth over the past five years. Given current and trending developments in the energy market, ENPH is one of the best solar stocks to consider for long-term performance.

Business Summary

Enphase Energy, Inc. is a provider of energy management solutions. It is engaged in designing, developing, manufacturing and selling microinverter systems for the solar photovoltaic industry. Its semiconductor-based microinverter system converts direct current (DC) electricity to alternating current (AC) electricity. Its microinverter system consists of four components:

Enphase microinverters, the AC Battery, an Envoy gateway and Enlighten cloud-based software. Its Enphase microinverters provide power conversion at the individual solar module level by a digital architecture that incorporates custom application specific integrated circuits (ASIC), specialized power electronics devices, and an embedded software subsystem.

Envoy bi-directional communications gateway provides collecting and sending data to Enlighten software. Enlighten cloud-based software provides the capabilities to remotely monitor, manage, and maintain an individual system or a fleet of systems.

Price Performance

Relative Valuation

Technical Indicators

Overall, the bias in prices is: Upwards.

Note: this chart shows extraordinary price action to the upside.

By the way, prices are vulnerable to a correction towards 87.14.

The projected upper bound is: 115.61.

The projected lower bound is: 92.60.

The projected closing price is: 104.11.

Candlesticks

A white body occurred (because prices closed higher than they opened).
During the past 10 bars, there have been 7 white candles and 3 black candles for a net of 4 white candles. During the past 50 bars, there have been 32 white candles and 18 black candles for a net of 14 white candles.

A long lower shadow occurred. This is typically a bullish signal (particularly when it occurs near a low price level, at a support level, or when the security is oversold).

Momentum Indicators

Momentum is a general term used to describe the speed at which prices move over a given time period. Generally, changes in momentum tend to lead to changes in prices. This expert shows the current values of four popular momentum indicators.

Stochastic Oscillator

One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 40.1972. This is not an overbought or oversold reading. The last signal was a sell 8 period(s) ago.

Relative Strength Index (RSI)

The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 58.21. This is not a topping or bottoming area. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a sell 1 period(s) ago.

Commodity Channel Index (CCI)

The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is -108.This is an oversold reading. However, a signal isn’t generated until the indicator crosses above -100. The last signal was a sell 1 period(s) ago.

MACD

The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a sell 1 period(s) ago.

Rex Takasugi – TD Profile

ENPHASE ENRGY closed up 1.930 at 103.460. Volume was 53% above average (neutral) and Bollinger Bands were 106% wider than normal.

Open     High     Low     Close      Volume
102.260  104.020  92.140  103.460    7,405,361
Technical Outlook
Short Term:        Neutral
Intermediate Term: Bullish
Long Term:         Bullish
Moving Averages: 10-period   50-period     200-period
Close:           108.66      82.97         55.80
Volatility:      94          84            131
Volume:          3,837,364   3,531,240     5,796,335

Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.

Summary

ENPHASE ENRGY is currently 85.4% above its 200-period moving average and is in an upward trend. Volatility is extremely high when compared to the average volatility over the last 10 periods. There is a good possibility that volatility will decrease and prices will stabilize in the near term.

Our volume indicators reflect moderate flows of volume into ENPH.O (mildly bullish). Our trend forecasting oscillators are currently bullish on ENPH.O and have had this outlook for the last 16 periods.

HEFFXhttp://www.heffx.com
HEFFX has become one of Asia’s leading financial services companies with interests in Publishing, Private Equity, Capital Markets, Mining, Retail, Transport and Agriculture that span every continent of the world. Our clearing partners have unprecedented experience in Equities, Options, Forex and Commodities brokering, banking, physical metals dealing, floor brokering and trading.

Related Articles

Stay Connected

15,334FansLike
43,300FollowersFollow
2,855SubscribersSubscribe
- Advertisement -spot_img

Latest Articles