Keep an eye on Enphase Energy (ENPH). After dropping from about $340 to $229.83, the stock has become oversold on RSI, MACD, and Williams’ %R. In fact, the last time ENPH became this oversold using those indicators, the stock rallied from about $246 to $340.
Goldman Sachs likes ENPH, too. As noted by Tip Ranks, Goldman Sachs believes the Inflation Reduction Act (IRA) “is one of the most meaningful policy developments for the US solar and energy storage sector and clears the way for at least a decade-long runway for stable installation growth across all residential, commercial and utility-scale markets.” Better, Goldman Sachs rates ENPH a buy with a price target of $379.