Enzolytics Inc (ENZC)

[foxi]

TA and chart: This week closed at the edge of the bottom bollinger band and the low end of the candle. Next week it's important that bulls try and rally, because the momentum is currently downward and this is the bollinger lowband retest which may result in a breakdown next week if bears increase selling pressure unchecked. RSI is a cool 38.8, and 35ish has been acting like the bottom on the weekly, so there's room for a lot more selling and downward movement from here.

More optimistically, the bollinger bands are narrow and conditions are favorable for these levels to act as a double bottom to support a reversal if we can get a significant catalyst to reenergize bulls. MM's may not be taking many shorts at these levels until it's clear which way the market will move. Hopefully ENZC will deliver good news early week.

GLTA and have a nice weekend!



Weekly chart, purple line is 200 week moving average: