ENPHASE ENERGY - ENPH
ENPH was a trade alert in The Green Trading Room as being weak. 5-Min Chart shown.
The stock price was under the three simple moving averages, so the trend was down on the 5-Min., 15-Min. and the 60-Min. time frames.
The odds were that prices were going lower.
Dan looked at the chart and showed the room why he agreed it would go lower, and told the room to sell ENPH short.
He also sent out a text alert to subscribers of the Swing and Options Trader's letter to sell-short a little after the open.
The text alert was:
11/4: ENPH - Short under $18.22. Bear 1-2-3 breakdown daily. Stop $20.02
The daily and weekly charts were also sent via text message to subscribers to show why there was a bias that the stock should decline.
As you can see in the above 5-Min. chart, the stock initially had a nice drop after the entry and then began to stabilize and curled up into the lunch hour.
As traders returned from lunch, the selling continued and those that went long for the little blip to the upside may have profited.
However, those that hung on must have been dumping their shares at a loss as ENPH fell.
As prices accelerated to the downside - and formed the wide range expansion bar below $17.25, Dan alerted subscribers to take the one-dollar gain On part of the position.
Here's the alert from the text set.
Master Trader Swing and Options Letter, [04.11.19 13:09]
ADJUSTMENT: 11/4: ENPH – Shorted stock at $18.21. 11/4: First 1/3 target is $17.21 area, Move Stop $18.21
The Trading Green Room provides Swing and Day Trades as well as Options trades each day. Plus education why each trade is taken.
We show you how to be a profitable investor and trader every day.
If you cannot be in the room, we send you timely text messages through the day for entry, exits and management as a subscriber of the Swing and Options Letter. TAKE A TRIAL!
And, every trade is documented in your member area.
Join the Green Room for live trades and ongoing education.