The Closing Print live trading and financial blog during market hours.

Enphase Energy was pointed out as a candidate for longs on Wednesday morning, the day after it broke out a Cup and Handle pattern. Check the scan results for additional stocks that show similar performance.

Bollinger Band TTM Squeeze Scan

Enphase Energy ENPH, like the other candidates on the Wednesday scan, also shows MACD in a bullish cross. Volume has been above average, printing “pocket pivots” the entire week. A 20% move (typical IBD calc) from the recent breakout is 7.6 points or 45.60 (+/-) before initial profit-taking. Keep an eye on this level in the weeks that follow.

Finally, ENPH is printing a cup and handle continuation pattern, with the depth of the cup as the measured move, 16 points (+/-). Add this value to the breakout gives us an ultimate target of 54 (+/-).

New entries should consider pullbacks to the rising 9/21d ema.

Existing longs, looking to swing for the 45.00 zone, can sell covered calls along the way as Bollinger Bands continue to expand.

Presently IV = 89% and still rising. We will watch for peaks to signal the best time to sell premium.

Bollinger Band TTM Squeeze Scan

Technology is holding up very well, captured in the sector charts below. Energy (XLE) is moving off the lows, one of the few lagging the industry groups these past few weeks. Therefore, alternative energy stocks like ENPH are showing relative strength. Keep this in mind.

Click to enlarge

Overall, the markets look pretty strong, as reflected in the SPDR sectors. We’ll monitor these conditions for any signs of rotation in the next few weeks, as seasonality kicks into high gear.

Futures are rising off the lows into non-farm payrolls this morning.

Join us today in the trading room for our LIVESTREAM broadcast

during market hours, as we navigate the current environment. Watch, listen and trade from 9:20 AM to 4:15 PM Monday through Friday.

Happy Trading,


Want to become a member? Check details here:

Disclaimer:  Do your Own Research

Our content is intended to be used and must be used for informational purposes only. It is very important to do your own analysis before making any investment based on your own personal circumstances. You should take independent financial advice from a professional investment advisor in connection with, or independently research and verify, any information that you find on our Website and wish to rely upon, whether for the purpose of making an investment decision or otherwise. Trades and or positions listed and taken from the watchlist are my own and should not be considered “advice” to enter any particular position or asset.

Investment Warnings

We would like to draw your attention to the following important investment warnings. The value of shares and investments and the income derived from them can go down as well as up; Investors may not get back the amount they invested – losing one’s shirt is a real risk; past performance is not a guide to future performance.

Live Sessions

Live broadcasts are educational in their content. Proper risk management is considered on every trade or asset mentioned. 

*** Stocks highlighted are for information purposes only and should not be considered as advice to purchase or to sell mentioned securities. 

As always, the use of technical and fundamental analysis is encouraged in order to fine-tune entry and exit points to average seasonal trends. 

These mentions are stocks that we may or may not decide to trade as outlined in the watchlist. Always use a stop.