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I moved it a few minutes ago with my measly add. :) Definitely retail traders for now.
This wants to run... Some volume coming in, here's hoping for a nice strong power hour. :)
Not sure if the gap is organic or artificial here, but it certainly seems to have stalled the run. Still waiting to see if big volume comes in but at this point they may as well wait for gap fill to buy.
I kind of did. At least we know distribution shouldn't be a hurdle now. Curious to see how the market reacts tomorrow.
I see "Dr Robert Califf" and I have the strangest mental image of what he might look like as FDA commissioner...
https://en.wikipedia.org/wiki/Robert_California
Thanks for the link. :)
We did know that, but not *who* they were going to distribute with. Turns out it's NPI, a major player who can potentially get Enzolytics IPF Immune into big box places like Sams, CVS, and Target. https://nutricompany.com/about/
Resistance lines pretty much every cent or two on the way up, but this is big news. I'd think .15 (200 day moving average) or .1925 (50 week moving average) is more realistic but it all depends on volume. I don't think anyone's expecting a red day at any rate. :)
About an hour after, yes. I hope they do an official PR so more investors get alerted.
Apparently I spoke too soon about the head & shoulders pattern that emerged on today's intraday chart. Price dipped to a precipitous level forming the bottom right shoulder, but bulls rallied and pushed it right back up by end of day. Then the news drop about ENZC's retail partner!
Here's the daily chart after market close. Depending on how the market receives the news this will probably spike right at open. Lots of headroom on the charts for a bigger run if big volume comes in.
GLTA!
Agreed, hopefully the company's progress only snowballs bigger from here. Lots of good stuff in the pipeline.
This surprise news could change a few charts. :)
Looks like any rebound is kaput!
The rally fizzled, Head & Shoulders pattern now apparent, unlikely bulls will rally further. Short profit target if the selling continues is somewhere near mid .05's barring a news catalyst to help reverse. If it makes it back to mid .05's it'll double bottom with the 200 week moving average which would be a good place for longer term reversal.
Profit target comes from .16 - .11 = .05 and we'll split the difference since the H&S is lopsided.
Thanks! <3 I'm glad you find it useful.
I have a bad habit of editing my posts, they shouldn't give me a 15 minute timer! :) Tuned up a few things!
Sure! I put Fibonacci retracements on the intraday 30 minute chart here:
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=167404176 (2nd chart)
So far, the pullback's found support at ideal levels for another leg up. Note that I'm drawing my Fibonacci grid starting from the point price first broke resistance, not the very bottom of the candle.
It's not guaranteed to keep running, it's just a favorable chart setup to support it. (And the day's not done!) Watch for volume to come in if price trends up again so you don't get bull trapped. (A fake run before a hard dump, usually starting toward the end of a trading day to trigger FOMO and dumping on bagholders the next morning.)
Intraday charts:
(Ignore them if you don't use charts)
This may have finished its pullback and be getting ready for another leg up. Watch for volume to come back in to confirm any new price action. There are a lot of bullish signs especially on the 4h and 1D.
Hourly Intraday
30 Minute Intraday
4 Hour Intraday
1 Day Intraday
The last daily MACD is double term so it's laggy and measuring periods of about 2 days. In my personal experience, when it crosses green and the quicker MACDs are already green, there can be a nice pop in price per share. Hopefully there's no big selloff to cause it to reflect downward instead.
She's right about these points though:
Agreed, and good analysis. The dominoes were in place if this was gonna blast off in a chain reaction of favorable chart setups, but today's dump pretty much put a shadow on that, barring something unexpected.
I thought it was going to dip to .054 or so to meet the 200 week moving average, but the breakdown had been going for too long and it reversed before then.
Something interesting about Bollinger Bands - often when bands are narrow you'll see two failed tests of whatever outer band before reversal and crossover. The bigger the timeframe charted, the more reliable the pattern.
If we look at ENZC's weekly chart, those two tests just happened. It wouldn't surprise me now to see this week's run reach or exceed the top band at .185, especially since after today there's a falling wedge in play that could take price to at least .20 https://investorshub.advfn.com/boards/read_msg.aspx?message_id=167377492
If we reach .20 tomorrow, the daily candle pattern at Wednesday's close would be Three White Soldiers which implies a day of retracement (Thursday) before continuation (Friday), setting us up for a big catalyzing Monday next week. ie, Tomorrow is a pretty important day to watch, but we have the makings of a sustained run without ever coming back to the .05 range before bigger news catalysts are expected to drop in Jan and Feb.
Volume before price though, and weekly volume is still relatively low. The dominoes are in place on today's charts, but this is the Wild Wild OTC - traders gotta stay agile, reassess often, and be ready for surprises.
Falling wedge on the daily, profit targets .20 and .29
I think it hiccups tomorrow shortly after open as flippers take profits and MMs capitalize on the selling, but there's a lot of hype so it wouldn't take much to keep it running. A news drop would be timely.
Potential for a Three White Soldiers candle pattern before retracement, especially if it gaps. (Would take us straight to .17-.20)
https://www.ig.com/us/trading-strategies/16-candlestick-patterns-every-trader-should-know-180615
Welcome! :)
Yes, very exciting :)
I placed another order but it only half-filled. That's okay because there's a bunch of stuff running so I'll redirect those funds to a better trade. Here's hoping the OTC is in for a greener January.
Updated my earlier post with a daily chart as well!
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=167361001
[UPDATED] If this closes strong today, the setup is there for a bigger run this week.
Inverse head & shoulders on the hourly, 20h moving average crossing the 50h, profit target near .12
https://www.investopedia.com/terms/h/head-shoulders.asp
Hourly chart legend (for top panel): dark blue to lightest blue are 200 hour, 50 hour, 20 hour and 9 hour moving averages. Dashed pink lines and bold 20 hour MA are bollinger bands.
Daily chart is looking great too!
Louis L'Amour is the bomb. <3 Read so many of those books back in the day. :)
Charts below:
- Charts are just a tool.
- I make these for myself as an exercise, am happy to share.
- Ignore charts if you don't wanna see charts. :)
- Unexpected news trumps charts, and DD is always important!
Nabbed some 12s, the setup is there if this wants to run. Waiting for volume to confirm price movement. GLTA!
I use three different MACDs: half duration for early warning, standard duration for most trading, double duration for confirmation of a longer trend.
4h with markup:
4h without markup:
There's no reason they couldn't talk about the accomplishments from the year and give us a 50000 ft view of their 2022 gameplan, even if there's some reason they couldn't tell us anything new. There's a pretty long list of Good Stuff they could draw from.
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=167210269
There's also a list of failures they probably don't wanna talk about. And one (multiple? four?) lawsuits currently happening that they probably won't address at all.
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=167328703
It'd be nice if they'd put everything on the table - the successes, failures, and unplanned hurdles - and own it all. From my POV, it's been a pretty active year for a biotech without a product and it seems 2021 sets the foundation for 2022 if they can rise to meet it. Communication and transparency is key to maintaining investor confidence.
Depending on your broker, a stock dividend in pennyland can sometimes be bad news to retail unless you're trading in big dollar amounts. TD Ameritrade has a $38 flat reorganization fee and if you're a small time trader you might get like $1 worth of shares. :P
Don't let that possibility deter you from investing in whatever ticker if the DD and risk/reward checks out, but it's something to be aware of.
Happy new year to you (and all) as well, thank you for keeping us informed to the Level 2 shenanigans! It's been great learning and saved me a lot of money avoiding bad trades.
Still hoping for an end-of-year update today and a late day run. Looks to be still within reach but imo it's gonna take a news drop to get started. MMs being near the short settlement date could help it along if they scramble to cover.
They haven't been clinically proven to work, yeah, but if the holdup is funding I'd think that'd be one of the easiest bridges to cross.
It's interesting that the policy is based on existing mAbs not working for Omicron, as if all the other variants it was previously working on just suddenly dried up!
Watch closely, this could run tomorrow/Friday:
Potential news catalyst (if they drop an end of year update) and the chart setup looks good for continuation.
Based on Fibonacci Retracements and the height of the last big green candle, if there's a run I'm looking for it to reach about .0925
This! (EOM)
Probably sideways for 1-2 weeks, then up to the .073 - .095 range.
Long term there appears to be a falling wedge, zoom out on a daily chart and watch some youtube to learn how to pick profit targets.
https://www.investopedia.com/terms/w/wedge.asp
Today was a Dark Cloud Cover candle and tomorrow is the opportunity for that to confirm. (Looking for a small green candle.)
https://www.ig.com/us/trading-strategies/16-candlestick-patterns-every-trader-should-know-180615
If history repeats, it should pop again at or a little after when that MACD at the bottom of my chart crosses. (My top MACD is half days, middle MACD is standard 1D scale, bottom is 2x days) Bottom MACD not guaranteed to cross, could reflect down. Unexpected news generally trumps charts. If TSOI has toxic debt or is a diluter, this could stay more bearish.
Chart legend (for top panel): dark blue to lightest blue are 200 day, 50 day, 20 day and 9 day moving averages. Dashed pink lines and bold 20 day MA are bollinger bands.
I'm interpreting "engagements" as a way to say they're farming out work to these established specialized companies without giving any details of the agreements (term of commitment, non competes, what ENZC must deliver by when etc) or compensation (cash, equities, IOUs etc). Note they said "in place engagements" and "Scendea will also assist" so it implies an agreement has already been reached and there are potentially good reasons why they don't want to disclose the details at this time. (lawsuits in progress, possible other partners yet to be announced, etc)
But completely agreed that this language is vague. How can we as investors measure progress when there's nothing quantitative to measure? How can we know if the goalposts are moving if there are no goalposts at all?
There was a ton of buy volume (hitting the ask or better) coming out of the breakdown last week. I drew a red arrow to show the relatively huge green bars. Insane that the smallest fraction of that volume can already take away half our gains a couple days later.
In this chart you can see the VWAP (pink line) I was talking about. Anytime price trades above it it's bullish, anytime price trades below it we're bearish. Traders will periodically test the VWAP and try to cross, when bears cross and bulls don't answer, bears take control, and vice versa, usually with a decisive pop in whatever direction. It should ping-pong off VWAP in a steady downtrend until bulls successfully cross in a future test. (Bulls technically have 15-30 more minutes to answer or could hold the line flat in a free market, but yeah..)
Volume Zone Oscillator shows bears willing to sell far outside the neutral zone, bulls seem unwilling to buy at these prices.
I'm guessing a hard drop this morning that bounces back up to the .73-.75 range. Price slipped below VWAP near close yesterday, back to bearish it looks like.
Might run a bit and then fall back to double bottom before a real reversal. (coinciding with news in january) This run has no catalyst afaik, just a market correction from the days of breakdown.
I'm with you there! The selling has been relentless but nobody knows for sure what it's about.
Dead cat bounce but it was a solid one. Also happened leading into Monday so it may go a bit higher next week. High volume which is a good sign.
https://www.investopedia.com/terms/d/deadcatbounce.asp
Agreed that if there's no news, it likely returns to the slow (or aggressive?) downward trickle. If toxic lenders or whoever still have shares to dump this just blessed them with a better price.
Sure! I've been awake too many hours but I'll do my best. :)
I use software that can automatically analyze pivot points in a chart, in combination with Fibonacci ratios, to help figure out where the support and resistance levels are likely to be. The algorithm is right more than it's wrong, but nothing is ever a guarantee, so I use this type of charting in combination with other metrics.
Fibonacci ratios are a commonly-occurring pattern that happens in nature, stocks, and many other places. This article explains them best:
https://www.investopedia.com/terms/f/fibonacciretracement.asp
In this chart of ENZC, the software has looked at various metrics (including Fibonacci ratios) and superimposed two uniform grids. The narrower grid is for Long entries, showing the calculated entry (L/E) and target point based on recent historic levels. The wider grid is for Short entries (S/E) and currently matches up with observable price performance. The big grid was off-target as a support line formed briefly around .13, but otherwise price has moved through each calculated level with brief rebounds on its way toward .02
We should maybe be seeing some support at current prices according to the wider grid. No support is bad, it shows a very strong bear trend. The algo calculates the next-best support level as .0522 which is very near the 200 week moving average. Imo that's the likely turning point - but a particularly bearish or manipulated run (like this is having) could drive a lot of extra downward momentum.
Notice the Long Entry is close to current prices. If this somehow reverses at current levels and breaks the nearest resistance, the algorithm thinks it's safe to buy above .079 which makes sense because this is way oversold and a strong momentum swing would most likely start a buying frenzy.
Lastly, I'll note that the left side of the chart shows a well defined Head & Shoulders pattern. The profit target for H&S here would be .11 - (.20 - .11) which is .11 - .09 = .02
https://www.investopedia.com/terms/h/head-shoulders.asp