Here’s a Top Watch Stock at SMM: $ENPH – November 22, 2022

by DAN ENPH 
This is Scott with your Chart of the Day. A really quick one here from Enphase ( NASDAQ: ENPH ). This is a stock that I have talked about a bunch of times on the Chart of the Day. It is really close to what I think could be a Blue-Sky Breakout.

As you can see it is currently above all the major moving averages I have here on the chart. This is an area of resistance that I have talked about in the past and we are really close to a potential breakout, in my opinion. But first, we have got to see Enphase ( NASDAQ: ENPH ) break above and stay above that 324.00 level.

I have an alert on my software here, just under 324.84, which is the high from this day here. It is really kind of the rejection day before all of this consolidation started. So if it can get above and stay above 324.90 I think that this stock has a chance to really make some moves, even though we are traditionally in kind of a low-volume, low-trading activity environment with Thanksgiving and Black Friday coming up.

So this is a stock that we have on Top Watch at StockMarketMentor.com. Some of our members are currently in this stock, so we are all watching for this break above this clearly defined level of resistance at 324.90.

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