Score 8.2 (out of 10): ENPHASE ENERGY sets up for +42.4% rally in 3 months

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What’s Going On Here?

Enphase Energy recently announced that it has agreed to acquire GreenCom Networks, a company that provides Internet of Things (IoT) software solutions for customers to connect and manage a wide range of distributed energy devices within the home. Enphase Energy’s aims to accelerate their home energy management solutions globally by utilising the technical capabilities of the development team at GreenCom Networks.

Why Now?

ENPHASE ENERGY has triggered a new volatility signal (1 month). During similar occasions, ENPHASE ENERGY shares had a median return of +42.4%, over the following 3 months – based on 10 historical occasions with 9 of those showing positive returns (90%). This buy signal for ENPHASE ENERGY received a high score of 8.2 (out of 10). This insight was generated on 2022-August-29 with last price of 284.82.

What’s This Token About?

ENPHASE ENERGY is in the Energy-Alternate Sources business. Based on the last 2 years’ risk/return profile, this asset is seen as Less Risky. Ticker symbol: ENPH US.

What’s My Risk / Reward and Time Horizon?

We found 3 months to be the optimal trade horizon, after testing a number of possible alternatives (accuracy of previous returns). Otherwise consider closing out this trade once the target level of 405.68 (+42.4%) has been reached. Based on ENPHASE ENERGY’s recent up and down swings, LongShortBets suggests considering to set a stop loss level for this insight at 266.92 (last price at 284.82), which is equivalent to a -6.3% decline.

Returns during similar periods:

The chart above shows the previous returns (in %) based on similar setups with the most recent ‘insight’ shown under (1), the second most recent ‘insight’ under (2), etc.

Previous episodes:

8.4% (October-2021), 25.3% (July-2021), 21.4% (May-2021), 6.8% (December-2020), 67.6% (July-2020), 59.5% (June-2019), 101.8% (March-2019), 101.3% (December-2018), 64.3% (October-2018), -32.5% (July-2018).

Historical Chart:

Summary:

NameENPHASE ENERGY
ViewUp
Star (1 to 10)8.2
Target42.4%
Time3 months
Hit Rate90%

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