Enphase Energy Inc

ENPH remains in a Stage 4 decline with clear lower highs and lower lows under declining EMAs and DMAs. Price is approaching the 200 DMA support in an oversold context, offering no immediate sell trigger. The medium-term bias remains bearish; therefore, trimming into minor rallies toward the 9 EMA, 21 EMA, and 50 DMA resistance zones is preferred.

• ↑Next-gen IQ9 microinverters & 5th-gen batteries boost energy density and lower install costs
• ↑Q1 free cash flow of $83M with cash position of $930.6M
• ↓Q1 revenue of $282.9M down 20.6% YoY; gross margin at 43.9%