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Market Insights

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Chart of the Day: Tight Consolidation, Golden Cross in Top Solar Stock

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Solar energy has been one of a few bright spots in this bearish market. Today we’re looking at the company in the group with the largest market cap: Enphase Energy (ENPH).

The first pattern on this daily chart is the uptrend since mid-May — the opposite of the broader market’s price action. In fact, ENPH hasn’t made a new 52-week low in 117 sessions. (The S&P 500 last made a new low 16 candles ago.)

Next is the tight …

For more, please click here to view the related idea and chart analysis on TradingView.

Enphase Energy (ENPH), daily chart with selected patterns and indicators, courtesy of TradingView.

About the author

David Russell
David Russell is VP of Market Intelligence at TradeStation Group. Drawing on two decades of experience as a financial journalist and analyst, his background includes equities, emerging markets, fixed-income and derivatives. He previously worked at Bloomberg News, CNBC and E*TRADE Financial. Russell systematically reviews countless global financial headlines and indicators in search of broad tradable trends that present opportunities repeatedly over time. Customers can expect him to keep them apprised of sector leadership, relative strength and the big stories – especially those overlooked by other commentators. He’s also a big fan of generating leverage with options to limit capital at risk.

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