Enphase Energy, Inc. (ENPH) stock price remains under slight pressure in its latest intraday trading, as the stock attempts to establish a higher low that could serve as a base for gaining the positive momentum needed to resume its recovery. This comes as the Stochastic indicators have reached deeply oversold levels that appear exaggerated relative to the stocks price movement. Meanwhile, the stock continues to benefit from positive support generated by trading above its 50-day SMA, which strengthens the prospects for a recovery in the near term, while the main short-term trend remains bullish.

Therefore we expect the stock price to rise in its upcoming trading, especially as long as the $52.95 support level remains intact, targeting the $73.75 resistance level.

Todays price forecast: Bullish.