Enphase stock price on 2/11/2023Enphase has sold off to the bottom of its trendline. It’s a relatively new trendline and one I expect to continue, making the stock a good opportunity for a medium-term investment horizon.

Enphase closed yesterday with a 29.44 billion market cap. Enphase has a chance of being one of the next billion-dollar companies. One of the reasons I expect Enphase to hold this bottom trendline is because it’s one of the rare tech stocks without a mega-cap that is profitable. Enphase has a 14.70% profit margin and a 17.30% operating margin. One potential risk for Enphase stock is that it is up 78.86% from its 52-week low, meaning it has risen a lot over the past year.

I wrote more recently on Mastodon regarding my thoughts on Enphase for anyone interested.

Image credit: FinViz