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Wednesday, August 31, 2011

Buy EnerNOC, Inc. (ENOC) Stock?

Tim, should I buy EnerNOC, Inc. (ENOC) stock on the rally today? By Tim - http://blackberrystocks.com

Thank You for the question. Shares of EnerNOC, Inc. (ENOC) are rallying off the recent lows but I wouldn't touch the stock for a long term buy just yet. Short term, ENOC could certainly have more upside to the $16-$17 range but I would think the shorts would come back and short the stock again. As you can see, EnerNOC, Inc. (ENOC) has been subject to a nasty downtrend over the past year. The stock has dropped from $36 all the way down to $8.39 recently.

Here is what I would do if I was thinking of buying ENOC. Keep an eye on the 200 day moving average ( currently $19.15 and dropping ). A great entry point for the long term would be to buy ENOC when the stock closes above this level. In technical analysis world, this would be a buy signal. If you see this buy signal happen, contact me again and I will do additional analysis.



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