Enphase Energy, Inc (ENPH) stock declined in its latest intraday trading, under the dominance of the main medium-term bearish trend, as it moves around the axis of its previous 50-day SMA, which acts as dynamic resistance limiting the chances of a near-term recovery. This comes alongside the beginning of a bearish crossover appearing on the relative strength indicators after reaching excessively overbought levels compared to the price movement.

Therefore, we expect the stock to decline in its upcoming trading sessions as long as the resistance level of $43.25 holds, targeting the key support level of $29.90.

Todays stock forecast: Bearish.