ENPH holds better than TAN;if mid165 fails, 120 will be retested
ENPHASE is holding better than its mother ETF, TAN. Since 2021, it has basically been consolidating horizontally except for an overshoot 4Q2021. In contrast, the TAN etf is in a falling wedge formation.
BULLISH CASE: Better yet, it is holding above the middle of this conso box, the 165 to 170 zone. (Middle of 120 to 220). This is also a convergence of 3 VWAPs from recent highs & recent bottoms. If it holds 165, then 220 will be retested.
BEARISH CASE: If this midzone is lost, then a retest of 120 will be next or even a double bottom sometimes in 3Q2022 to create a divergence.
Not trading advice
BULLISH CASE: Better yet, it is holding above the middle of this conso box, the 165 to 170 zone. (Middle of 120 to 220). This is also a convergence of 3 VWAPs from recent highs & recent bottoms. If it holds 165, then 220 will be retested.
BEARISH CASE: If this midzone is lost, then a retest of 120 will be next or even a double bottom sometimes in 3Q2022 to create a divergence.
Not trading advice