Thursday, October 13, 2016 12:26:34 AM
that said, here's the link to the daily 3 month chart.
http://www.profitspi.com/stock-chart.aspx?id=ENHT&ca=2073927029
on this chart you'll see a flag pattern has emerged. this is a bullish move that usually takes a couple weeks in consolidating the run up the pole. a look at the moving averages shows this has been recently travelling along the 5 day moving average. that's a support line, but because its so quick its a weak one, so what you're looking for when you're playing the chart for a continuation of an upmove is a test of the 10 and/or 20 day MA. on this chart there's a gap on the pole between .002 and .0022. some chart traders wait for it to fill, but it doesn't have to -- it would become what's called an island gap -- and i personally think the odds of this one filling are low. but then my crystal ball is usually a murky red. so what do i know?
in any case, chart indicators show that though there's more buying than selling, its clearly not overbought. someone(s) is quietly accumulating, and with no discernable dilution, seems to me the available float here is getting eaten up, nibble by nibble. support looks to be around .004. that will be the 20ma before the week is out, and a bounce off it would show strength. that in itself suggests that anything around the current bid is prolly a decent buy. but then again... its a cruel game we play.
as for the near future, going back 5-6 years, it seems the next move up should take it to at least .012. i think that's a reasonable target for a safe trader in an otherwise dangerous game. and from there, it will depend on news and promotion -- and by promotion i do not necessarily mean a paid for or unsolicited promo -- as well as volume. not enough buyers and traders often means limited or no movement.
as always, anyone reading my posts is welcome to use, lose, or abuse my views. any decision on how to trade is a personal one. i offer my lunacy for your amusement.
best of trading to ALL
rich
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