Enphase Energy Stock Just Shot Into Overbought Territory. Is It Too Late to Buy ENPH?
Enphase Energy (ENPH) shares soared over 35% on Feb. 4, after the solar power specialist reported market-beating financials for Q4 and issued a surprisingly sunny outlook for the current quarter. The upward price movement pushed ENPH’s relative strength index (14-day) well into the 70s, indicating deeply overbought conditions that often trigger a significant selloff. Enphase stock is now trading at nearly twice its price in late November. Yet, many analysts recommend that investors stay strapped in becau ...