Big volume in this stock created the bottom of a pullback to buy.
This solar company just finished a short-term correction in a strong long-term trend.
Click here to get in on the next move higher.
As you can see by the chart below, Enphase Energy, Inc (ENPH) is in a steady uptrend.
It’s also in Investor Business Daily’s #1 relative strength ranked industry group – Solar Energy.
ENPH designs microinverter systems for solar energy systems.
On Wednesday, ENPH had its biggest volume day in a month, and it occurred on a big positive move up.
Additionally, the rally began after a 10-day correction down to near its 50-day moving average.
This pattern creates a good stop under $9, which would be below the low of the correction and the 50-day moving average.
The entry for the trade is between $9.50 and $10.
There should be support at 9.50 so if it’s trading under that level the trade is suspect, but maintain a stop under $9. And over $10 the trade is working, but it’s too late to enter with a $9 stop.
Rick Nartarian, Chief Investment Officer
Darwin Wealth Creation