The clean energy stocks are in a serious drawdown. 
ENPH has a very messy stock. The stock has seen almost 88% of its value wiped out over the last 2 years. But is it the end of clean energy and stocks? With the new administration in place the clean energy stock has been in a bearish pattern.
In terms of the drawdown the stock looks the same as $CVNA. At its lowest
CVNA had 98% drawdown. ENPH is down 90% and maybe it must go through a similar drawdown then the price must drop down to 10$.
Currently 21% of theENPH shares are sold short, and the short interest ratio is 3.77. These numbers indicate that there might be a danger of short squeeze with 21% of the shares sold short and it might take 4 days for the shorts to cover the positions. This is more than the current short squeeze candidate $OPEN. But is this a good time to buy?
In my opinion the price ofENPH has some more room to downside. Out target is with price between 20$ - 10$ we can go long ENPH
Verdict: More downside possible in $ENPH. Go long between 20$ -10 $. 21% Short interest.
ENPH has a very messy stock. The stock has seen almost 88% of its value wiped out over the last 2 years. But is it the end of clean energy and stocks? With the new administration in place the clean energy stock has been in a bearish pattern. In terms of the drawdown the stock looks the same as $CVNA. At its lowest
CVNA had 98% drawdown. ENPH is down 90% and maybe it must go through a similar drawdown then the price must drop down to 10$. Currently 21% of the
ENPH shares are sold short, and the short interest ratio is 3.77. These numbers indicate that there might be a danger of short squeeze with 21% of the shares sold short and it might take 4 days for the shorts to cover the positions. This is more than the current short squeeze candidate $OPEN. But is this a good time to buy?In my opinion the price of
ENPH has some more room to downside. Out target is with price between 20$ - 10$ we can go long ENPHVerdict: More downside possible in $ENPH. Go long between 20$ -10 $. 21% Short interest.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.