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Then hit me with some analysis that suggests otherwise!
I agree this one's been hard to chart. Charting evolves as we get new data points, so while it can help with forecasts, often it takes a reversal to give us those data points. News can also change the course quickly. (Yesterday's surprise breakout)
No one knows the future but it's unwise to gamble on sentiment alone. TA is one of many tools to help form a complete picture of the possible risks and rewards.
NGL this chart isn't looking good:
Today was a Dark Cloud Cover candle, which signifies decisive bearish reversal. Here I've plotted a rising wedge since late August and a descending triangle since early June that so far are both confirmed by this week's price action.
The rising wedge showed a breakout to the upside which is not common. The Dark Cloud Cover candle implies this may have been a short lived "false breakout" and that price will fall back through the wedge to the downside. The problem is bearish momentum could continue to the downside until it reaches point 5 of the descending triangle, where further breakdown is likely.
Volume analysis still shows a huge gap around .145 and this is where I think price is moving next. To fill the gap we can either have buy volume or sell volume, but this could be the dropping-off point for a major selloff.
The short profit targets for this perfect storm are in the single cents. Frustrated longs are hitting their 1y and the company has yet to deliver meaningful news, or to address its challenges in a transparent way.
I know many will interpret this analysis as FUD but I'm just reporting the charts and known catalysts. IMO we need news ASAP to avert a bad outcome. The James Hicks interview and any surrounding news drop is kind of the last opportunity to reassure investors before things could maybe get really ugly.
GLTA
Nice! Thanks very much for sharing the news here!!
edit: yes TRO denied, found a source
$ENZC Motion for Temporary Restraining Order restraining Savov from transferring 200,000 shares is denied until and unless ENZC can prove the court has 1) service on Savov and 2) jurisdiction over Savov. @TheJawsomesauce will be posting a video about this and more later. https://t.co/GP9e2oB12D
— King of Prussia (@ImKingofPrussia) September 29, 2021
$ENZC Motion for Temporary Restraining Order restraining Savov from transferring 200,000 shares is denied until and unless ENZC can prove the court has 1) service on Savov and 2) jurisdiction over Savov. @TheJawsomesauce will be posting a video about this and more later. https://t.co/GP9e2oB12D
Savov tried a test transfer with 200k shares, Empire is taking their time to fill the order because they know ENZC is trying to get a TRO. The TRO is for ALL shares Savov might request. (Up to the full 72M) Without a TRO, Empire is caught in the middle needing to serve an order from the shares' purported owner while also being asked NOT to serve any orders from the shares' other purported owner. So yes it's a big deal.
If the court doesn't issue a TRO, ENZC might have to add Empire to the lawsuit to prevent it from filling Savov's order. Suing its own transfer agent could make things all kinds of ugly for Enzolytics. ENZC's earlier transfer agent resigned to get itself off the lawsuit under similar circumstances.
It is unclear what would happen if the court didn't issue a TRO during today's meeting. (It may be a process that takes a few days to review?) I imagine Empire will try to buy ENZC as much time as possible to avoid getting any more entangled.
This seems to be bottoming out near the 200 hour moving average. Tentatively a good place to add for a comeback run. But obviously be very very careful since this stock has a bad rap for being dilutive and none of the other support held.
Similarly, the obvious bulls are mostly silent since the ticker is deep red! It's a given one or the other camp will sound off when there's big movement. :)
I hope news drops after all, to catch bears napping & tilt the scales toward optimism.
Welcome! This one's definitely worth watching to see if they can deliver, though it's really been struggling this year.
Here's a solid DD page by gypsy7 to get up to speed! IMO it should be stickied on the board.
https://www.notion.so/ENZC-Latest-News-19a6e9357bd9485a80fb84ad4e73cb7e
Fact: both the COO and their PR guy posted pumpy statements on twitter right before today's big dump. They'd better chase it with news because it's a really bad look.
Only the tip of the iceberg.
— Gaurav Chandra M.D. (@drgauravchandra) September 27, 2021
$ENZC getting ready for the institutional level...
— TEN Associates LLC (@PWExchangeINC) September 28, 2021
There's a lot of bears with a lot of shares. The company isn't helping itself by being opaque about bad news. I think that gets under peoples' skin worse than the lack of good news.
But no sell signals yet on 4h and up!
There's another possibility that could still give us a PR before the Hicks interview - if ENZC is confident Savov will lose the court case, they could simply be waiting on the temporary restraining order to lock down the disputed shares before issuing a big PR. Currently, there is nothing but goodwill preventing the transfer agent from assisting Savov to sell the shares, so they need something from the court to help direct. The ruling on the restraining order could happen as soon as today per this tweet (also shown inline, below) which means news could still happen after hours or tomorrow if the court can clear the path.
From a web search:
A temporary restraining order serves to provide emergency relief and to preserve the status quo until a hearing may be had on a temporary injunction. The purpose of a temporary injunction is to preserve the status quo pending a full trial on the merits.
$ENZC update - the judge and attorneys will be holding a call to discuss ENZC's motion for a temporary restraining order (TRO) on Wednesday. We should hear something more after that. This is to give permission to Empire to temporarily refuse Savov's requested shares. pic.twitter.com/0QBrMtx0Wu
— Jaws @ Shark Invested Waters (@SharkInvested) September 27, 2021
$ENZC update - the judge and attorneys will be holding a call to discuss ENZC's motion for a temporary restraining order (TRO) on Wednesday. We should hear something more after that. This is to give permission to Empire to temporarily refuse Savov's requested shares.
It's something to be aware of but there's historic volume at that level that hopefully counts for something. As I understand it, a gap up is bullish, and how fast (if ever) the market returns to fill it depends if bulls can keep money flowing and how scarce shares are.
If you see a gap up after a long run without a new catalyst to explain it, it can be an important sign of bull exhaustion. Today's close was so strong I think the gap more likely counts as a jump start to a big run as people anticipate an ENZC PR that is probably coming. There is also the afterhours tweet from Intel to help explain it. :)
Of course not now during this run! That was more a possibility if this couldn't find its legs or maybe later if it comes all the way back down without news. Until that intel shoutout last night it was teetering precariously in a rising wedge on the daily. (usually bearish and the short target was .12)
Last week, one of the discord servers' OG creators said he'd sell "right now" if it was his 1 year. And others were echoing his concerns. I bet they're feeling pretty refreshed after today. :)
Hicks is Thursday! And thanks for the link!
Hopefully news tomorrow? Would give them a lot to talk about in the interview... :)
You can gauge it if you watch this:
https://stocktwits.com/symbol/ENZC
There's always the moon references, celeb gifs and price predictions in an uptrend, but there's been a heavy increase in message volume in the last couple weeks and a more colorful array of speculative posts about interviews, news and partnerships. Pumpers with a bunch of followers buy in, tweet a good story, and ride the wave for a living.
I agree with you that people expect we are closer to milestones and news! :) The tides seem to be turning.
Safe to say we broke out to the upside of the ascending wedge! Today also confirms a bollinger band breakout (not shown) and the candle is engulfing (extremely bullish, gap up with no top wick)
The blue line on this chart is the 200 day moving average. At this point I expect tomorrow's candle to climb at least that high (with probably a tall wick above it) but if we get a news drop this could easily hit the .25-.30 range. I don't see how all this momentum could u-turn but if it does, price would fall into the gap at .155
RSI positively exploded out of the old range and the daily chart hasn't looked this good since the run to .30 in June. Although there was a significant volume uptick, it's important to note that news hasn't dropped yet and big volume hasn't come in yet which makes the chart setup pretty fabulous.
GLTA!
1 by itself because twitter is pumping, 2 already accumulated, is not shorting & is possibly doing strategic buys to encourage retail to FOMO their money so 2 can profit long or short depending on news. 3 is largely waiting on audit, lawsuit and partnership updates to mitigate long term risk (they don't go long unless they're going LONG) and 4 would work deals directly vs scooping up retail shares.
See RG*P's chart for an example of what twitter & reddit pumping looks like. The recent big movement was all about that ticker going pink current & speculation of accompanying news (pink current happened but no news)
ENZC has very strong volume compared to other days but this is still barely a blip when compared to historic volume! Will post a chart in a minute.
Right? If the momentum starts changing for the better then there'd be no reason to sell aside from healthy profit taking. Lots of potential here.
It's from FOMO/pumping/hype from retail and no one is willing to sell when we're expecting overdue news before the Hicks interview. MM's probably backed off to avoid acquiring extra risk prior to an approaching short settlement date and to allow retail sentiment to push the price higher for more profitable shorts, if it comes to that later.
ENZC also got an official shoutout from Intel~! (link)
I'm seeing a lot of chatter in the discord servers from longs who are about to hit their 1y and many are saying they're burnt out and ready to sell. Not so much in Godfather's server but plenty in the other one. (And I know many iHub longs have expressed they'd rather hold for dollars!) Unusually strong news or a higher price that holds will keep undecided longs in the game. Conversely, if the company disappoints there could be a lot of new bear shares unloading in the short term. I think more clarity on the partnerships/lawsuit will also ease some fears.
Hoping we get news soon + the news is big! :)
Great, thanks!
Both a temporary restraining order and an injunction should prevent the transfer agent from allowing Savov to sell the disputed shares.
"A temporary restraining order serves to provide emergency relief and to preserve the status quo until a hearing may be had on a temporary injunction. The purpose of a temporary injunction is to preserve the status quo pending a full trial on the merits."
The restraining order buys time until they can get the injunction. Not sure if ENZC has been withholding news due to the court case, but I bet they'll have more room for big PRs after getting an injunction. (Savov would have to win the lawsuit to lift the injunction, and that's probably not happening, haha)
The official Intel shoutout speaks for itself! Intel and ENZC have now both referred to the earlier whitepaper as a "collaboration"
I agree ENZC shouldn't exaggerate and claim a partnership if there isn't one. But I don't think they've claimed that? Linked both original PRs below.
Of course Intel is going to market their own tech and policies from the successful collab. Tomorrow should be really interesting... Lots of fresh buzz and new eyes for ENZC! :)
https://blogs.intel.com/policy/2021/09/27/empathetic-ai-unlocks-new-opportunities-for-healthcare-innovation/
https://www.accesswire.com/647624/Enzolytics-Inc-and-Intel-Corporation-Co-Author-White-Paper-on-Use-of-Artificial-Intelligence-for-Social-Good
Lmao, nice!
This is getting interesting! Charts:
Strong signals on the daily but we need tomorrow's candle or an obvious continuation to confirm daily breakout.
Volume profile says this will probably come back to .145, but maybe not if we get news or FOMO is kicking in and bulls decide to rally. Gaps are filling in nicely compared to last week. Hard to see it but the candle pattern for the last few 15-minute candles was Three White Soldiers (bullish) followed by a Shooting Star (bearish) as over four million volume traded end of day.
Clear rising wedge happening on the daily. The price target for shorting this is about .12 . Sometimes a rising wedge breaks out the top but more often it's to the bottom.
I think as soon as they get the court to issue and injunction things change for the better. That should lock down Savov getting to the shares and everything I'm seeing about the case so far suggests his defense will be hard pressed to refute ENZC's claims. (especially the claims seeking damages for the stuff Savov did outside of legal channels)
More Savov research:
Godfather posted this document in one of the ENZC discord chats. https://cdn.discordapp.com/attachments/795853537548435499/891016669508550667/Screenshot_20210924-134128_Chrome.jpg (Also shown inline at EOM)
The document spells out that Immunotech agrees to "exclusively license from The Zhabilov Trust all of The Zhabilov Trust's rights under patents, patent applications and know-how" related to IPF.
In my earlier post I quoted the following from one of ENZC's latest filings regarding the scope of the exclusive licensing:
On June 22, 2017, Eco Petroleum Solutions, Inc. (OTC Markets "ECPO" or the “Company”) announces that IMMB BG, a subsidiary of Immunotech Laboratories, Inc., the Company’s subsidiary, has issued an exclusive Distribution Agreement (the “Agreement”) for the territory of the Ukraine to LLC Project Development and Implementation Centre Omega (“Omega”). The term of the agreement is for an initial ten-year period with an option to renew the agreement for an additional ten years. The Agreement establishes a price of €3,300 (Euros) per one 8-week cycle of injections or 16 vials. The treatment protocol requires two 8-week cycles of injections administered twice a week with a one-week break between cycles. The ITV-1 treatment will be administered with a combination of different variations of Protease Inhibitors used in the treatment of HIV/AIDS.
Thanks!
This is from the PR from 10 months ago:
https://finance.yahoo.com/news/energy-finders-acquires-sensortecnics-130000471.html
EGYF is expecting to file audited financials with the SEC to become a fully reporting company, making the business more accountable and transparent in its financials and business announcements. We also plan to uplist to OTCQB in 2021 and to further up-list onto a major exchange.
I'm with you there! I'm anticipating one these two outcomes:
- mAbs news arrives and price skyrockets briefly because shorts will cover and existing investors won't want to give up any shares until they reach take-profit levels.
- We get a great interview but no new news drop. The theory behind this is that ENZC does have news but can't share it yet. ENZC wants a court injunction in the Savov case, so Savov's defense could possibly use a PR drop to block the injunction by claiming ENZC is creating false urgency for injunction out of a desire to profit. ENZC probably isn't willing to risk the court refusing an injunction and Savov then convincing the transfer agent to sell those disputed shares.
It's a real gamble because new buyers, flippers and swing traders could get burned in the short term by holding (if there's no news and the twitter crowd gets spooked) or by waiting (if surprise news drops there'll probably be a sudden spike to share price with no chance to buy on the way up). I personally think the scenario with no news is most likely, but I don't know what'll happen to the stock price between now and then. If it makes a decent rise thru this week it'll add incentive for people to hold even if there's no news by end of week.
Charts aren't telling me much right now but trading doesn't seem to be positioned yet for sustained breakout without there being news. We could bounce between .12 and .15 at any given point but so far it's held pretty well above .13.
What happens after it's current? Is there any known news in the pipeline? If this is holding on just the speculation of news, that could explain why it faltered a bit this morning. (Investors taking profit or reducing share count before risk levels change.)
I think with this type of publication the idea is that the Q3 edition is a forward-looking document covering the latest buzz that might be relevant in the 3 months until the Q4 edition. It's not like OTC filings that can only happen after the completed quarter once all accounting is known. This is the kind of magazine you might find on a coffee table in the reception area of some college or office tower. :) Though I think this one's all-digital.
No idea, but Q3 is generally July-September. My guess is they prepared the article in June for publication in early July. It's good exposure for ENZC in general, but since then we've seen additional news that might change the timeline of ENZC's goals. (Lonza PR not republished, lawsuit filed July 15, Creative Biolabs terminating cooperation agreement on July 21)
The article also reported that ENZC is "working with Intel". Take that as you will - it could be something Chandra told them in a private interview, implying ENZC/Intel was still a thing as recently as June 2021, or Discovery Report could simply be assuming that based on ENZC's earlier PRs.
I imagine Intel was (or is) letting ENZC run simulations on Intel's computing tech because the breakthroughs would give Intel great talking points to promote their computing tech. https://en.wikipedia.org/wiki/Aurora_(supercomputer)
It's in the bottom left corner of the page with Chandra's picture, it appears GF's tweet is of an edition of Discovery Report from 3rd quarter 2021. Another page says it's a quarterly publication so this article might be from June/July.
Good post!
Thanks! I was trading in another stock that diluted itself to heck the last couple days, and I see exactly what you're talking about in the accumulation line. :)
(NOT EGYF) https://i.ibb.co/ZY586Ft/20210924-psru-accdist.png
As far as EGYF, here's a fairly complicated set of charts. I X'd all the potentially-bad stuff.
- Sitting on the profit target for the earlier broadening wedge and below the 200MA
- Lowering volume
- RSI in breakout without a big price jump
- Bouncing all over vwap
- Buyers backing off
- williams AwesomeOscillator showing strong cooling on 30M
Some other indicators (MACD periods) look good tho. This could go either way on Monday. If it runs, good chance it's on track toward .14 and if it falls, I'm looking at that volume gap near .031
AS is 5B and OS is about 1B, so there's 4x as many shares available as currently circulating if they choose to dilute with them. (Unless I'm misunderstanding those numbers!)
Mark this number from 9/23 and we'll see if it goes higher: 983,843,251
https://www.otcmarkets.com/stock/psru/security
In a hollywood movie it'd be a fun plot to have STXG come in and introduce volatility to screw with the MMs who thought they had it all figured out, and pit them against each other to short squeeze themselves. Rocking the boat to get things moving.
In reality? No idea, but it's interesting to see! :)
I hope so too! But I'm expecting they won't be able to talk about much other than mAbs! Would be an amazing surprise if they can offer clarity about the rest.
THAT SAID there could totally be good news on mAbs between now and then - I still don't see how the Savov case would prevent that, unless there's some legal reason we don't know about yet for not having any PRs. But then why do the interview? :)
You're welcome for the analysis, I'm happy to share! (And appreciate everyone's feedback as well.) I'm trying to answer some questions for myself to lower the perceived risk, before I commit my hard earned money. It's easy to get lost in the 'cause' and forget doing some of the DD because we all want this company to succeed!
Money is money. :)
The chart setup is looking great for Monday.
Cup and handle in play or it could be a nice little head fake.
If anyone's still trading or trapped, look at this over the weekend:
https://www.elearnmarkets.com/blog/how-to-trade-megaphone-pattern/
https://www.centralcharts.com/en/gm/1-learn/7-technical-analysis/27-chart-patterns/514-ascending-broadening-wedge
Megaphone pattern, forming for PSRU as an ascending broadening wedge. This pattern is all over the OTC right now for whatever reason. Maybe new money moving in from dark/defunct companies under that new SEC rule and creating volatility?
If this bottoms at .0069 (lol) it might get one more highly volatile run to the middle or top of the wedge. I've seen a couple actually break out the top.
Holding my shares for the moment to see if support holds for a possible rebound, because I'm down about 40% so wth. :)
GLTA