Enphase Energy, Inc.s stock price (ENPH) inched higher in latest intraday trading, as it attempts to correct the main downward trend while moving alongside a short-term rising trend line, with the price touching the resistance of the 50-day SMA. This comes alongside negative signals streaming from the Stochastic after reaching overbought levels, adding further negative pressure on upcoming movements.

Therefore we expect the stock to decline in upcoming trading, as long as the resistance of $51.63 holds on, targeting the support level of $31.30.

Todays price forecast: Bearish