$ENPH Enphase Energy set for major breakout.

Possible breakout in the near future as long as market maintains bullish sentiment.
Alert for breakout above $60.00
Possible upside target as per Fibonacci extension\expansion levels.
Earnings highlights
Enphase Energy (NASDAQ:ENPH) +3.6% after-hours following an easy Q1 earnings beat and a doubling of revenue from the year-ago quarter to $205M.
Q1 adjusted gross margin increased to 39.5% from 37.3% in Q4 2019, driven by disciplined pricing and cost management.
Q1 shipments totaled 643 MW DC, or slightly more than 2M microinverters.
For Q2, the company issues downside guidance of $150M-$130M in revenues vs. $133.6M analyst consensus estimate, as well as GAAP and non-GAAP gross margin of 37%-40%.
Due to global shelter-in-place rules, Enphase says it was unable to ship its Encharge battery storage system during Q1 as planned but now expects shipments to begin in June 2020. Source seeking alpha

P/e ratio 33.85
Company profile
Enphase Energy, Inc. engages in the design, development, manufacture, and sale of microinverter systems for the solar photovoltaic industry. Its products include IQ 7 Microinverter Series, IQ Battery, IQ Envoy, IQ Microinverter Accessories, IQ Envoy Accessories, and Enlighten & Apps. The company was founded by Raghuveer R. Belur and Martin Fornage in March 2006 and is headquartered in Fremont, CA.

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