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Bought the dip as well!
When share price is chronically low it's easier to convince a company in need of cash or growth to agree to terms that greatly benefit the lender/buyer. Makes lowball offers seem more lucrative.
I think ENZC's leadership knows what's at stake here, and is being careful to circumvent bad players. In the meantime, it's a waiting game for investors.
Yeah that's a bit better, and it's holding strong at the charted moving average line so far on both daily and weekly.
PR addressing the filing delay would be nice. Anyone know if it'll show up here before final SEC approval? (or does this just list approved filings) https://www.otcmarkets.com/stock/bssp/disclosure
Also found the email below on stocktwits. So per the June 30 news, if this email is correct and if BSSP was honest in their PR, we're in probably week 4 of a 6-8 week process.
Big anomaly on Acc/Dist if you compare 6/15 and 6/22. Price is higher but accumulation is lower, then Acc/dist flatlines in spite of big price movement. I think this suggests we might see major movement lower in the coming days?
We're almost at the end of the triangle I annotated. We could trade out the side like last time, pop upward (triangle is acting as resistance so once we escape it...) or get pinched down to a lower level. (.001) Thoughts?
Considering Acc/Dist and MACD I'm a little antsy, but still holding for now.
Remotely possible, but ENZC has already worked with reputable companies and universities and it'd be foolish to undermine that success by making deceptive PRs. There's no evidence the company's been diluting shares so a higher share price wouldn't directly benefit it either. More likely someone jumped the gun with the announcement.
ENZC is already working with Denver Scientific, University of Montana, University of Strasbourg, California National Primate Research Center at USC, Genscript Labs, and main operations are hosted at Texas A&M. ENZC has convinced the federal government to grant many patents. I doubt they've been conning all those entities!
Your guess is as good as mine! I'd rather let the news speak for itself. (But news has to stick as well, haha)
Probably just some bad communication and somebody jumping the gun.
Good catch and yeah, not a good look! Hopefully just an amateur mistake and not some kind of deception.
We'll see next week!
Agreed! &I think we could see .16 by Friday night unless we get surprise news. But it doesn't matter much if we're in a sideways channel. (Looks like a horizontal channel on the hourly. So PPS would likely come back up again next week. Especially with news.)
https://www.investopedia.com/terms/h/horizontalchannel.asp
Was hoping someone made cliffs notes, thanks!
Here's a new chart and some analysis:
TLDR; I think we are seeing choppy sideways trading between two trends.
Afaik it's usually wise to hold during choppy trading because it's easy to get burned buying or selling with no established trend. MM's will probably load and experts will probably day trade.
Observations about the chart:
- Something's shearing the ends off the biggest candles, whether red or green. I need more candles to spot a trend. Right now it looks like choppy sideways trading. Alligator study (not shown here) confirms sideways trading.
- Long term Moving Averages (50 & 200) still trending up.
- The 50 day MA crossed the 200 MA yesterday. All are now aligned bullishly, except 9 day MA (which reacts fastest to new trends.)
- We could see a breakout up or down since all the MA lines are close together. But imo this will trade mostly flat without significant volume.
- Volume is unbelievably low after a week of good news. (Are bulls spooked? Waiting for answers for the overdue audit and Montana results?)
- RSI neutral.
- MACD oscillating near zero, suggesting no particular momentum for bears or bulls.
GLTA
I find them helpful too! Thanks for sharing.
Social media hyped the heck out of yesterday's pre-announced news and folks ran with their wildest expectations, which of course fell short and robbed us of some momentum. Today's news helps a ton, especially if coupled with more surprise news tomorrow/friday/soon.
And yeah for whatever reason on this ticker bears can move price about twice as far as bulls can for the same number of shares. :P
Same, but afaik the Univ. Montana results and audit results are both imminent, and we don't know how many other partnerships they might announce soon. Creative Biolabs and Lonza Bioscience must have seen something to get them on board...
Yeah it's a lil thin! Bought the dip, I think it'll run at lunch.
That dip tho. Lmao, GLTA
Honestly so far it's been an impressive selloff and an impressive recovery. I am happy that support is holding the line for now. :) Gonna be a long day.
Awesome perspective, thanks!
Ran across this tweet on stocktwits:
Quick commentary first! Dunno if the email is real. Regardless, here are a few observations about it:
- Looks like BSSP hadn't actually filed with the OTCM as of Monday July 12? Even though their latest PR strongly suggested an expedient filing? Can anyone speak to this idea that the OTC has to issue "notice to upload" before they can submit documents? Why would there be such a rule?
- Couldn't they voluntarily hold back their filing pending merger talks, then come back at us later with 'well actually the merger talks fell through, sorry folks'? Even if that'd be super sketch, couldn't they pull that stunt without penalty? They didn't explicitly promise they'd go pink current. They did however state:
Could have been a bear trap to shake out a few more cheap shares. A dirty trick either way.
Chart still looks fine but we need good news for it to move up. My expectations (for the short term) are tempered given the best they've offered us is rumors. (Come on ENZC, 'something soon' but not a peep about the overdue audit?) Long term this'll do fine.
Holding as well until I see a definitive trend on the daily! GLTA
Yes, it's showing up as a link. Try:
Imo if price gets back to .30 anytime this month it'll give us a shot at completing a cup and handle with the lows from May. You can see it on the daily. A safe profit target in that case would be about .50 https://www.investopedia.com/terms/c/cupandhandle.asp
On my charts we're still in the same situation as we were on Friday, with the 9 day Moving Average waiting to cross the 20MA and the 50MA waiting to cross the 200MA. (Yes, that'd be a golden cross!) If both of those happened it'd be tremendously bullish.
But if the news doesn't live up to the hype, the moving averages could also easily death cross since the lines are so close together, so trade with caution!
Not a ton of volume today but maybe we'll see an end of day run. :) I think people are waiting to see the news and/or until FOMO kicks in.
Friday's daily chart:
(this does not show Monday's activity! But Monday's moving averages are still sorted like they were on Friday)
Ha! :) I just added more, price on the hourly chart is now above the 200MA so hopefully it can use that as support thru any dips. Hoping for big news tomorrow!
Excellent read, thanks!
Right on!! <3
Chart's much better after today! Check it out:
This is the first time we've seen price exceed that triangle resistance line since late February! That suggests bears may be exhausted & bulls may be finding new energy. If next week's news is significant, this looks primed to make a run. (.30 at least, and if that happens, there'd be a cup and handle in play that could take it further to about .50)
I'm optimistic but I also want to see the news! Not a fan of this 'we'll tell you tomorrow' teasing. :P
Agreed and if ENZC can cleverly use veterinary medicine or foreign trials/approval to prove viability and get into the news, it will help pressure the US medical bureaucracy tremendously. Also with you about .30 given what we know today.
Noted, and thanks for your insight! <3
I'm in it much higher than .01, it's important to me to know where the bottom should be to maintain a profitable entry. Bagholding is no fun even if price does eventually come back up!
I hear the frustration, but Intel already did associate itself with ENZC! (And at the time, share price was trading flat at .12 after a huge multimonth bear run.)
I too am frustrated by the current lack of transparency. I remember reading of a commitment to increasing shareholder value in their old PRs. For example:
I charted that line you used for the bottom of your flag. On the current trajectory, looks to me like price will need to articulate to something more bullish around .13-.135 to avoid Bad Stuff. The good news seems to be that it won't take much longer! The bad news is we won't know which way it'll go until we get there!
If this is indeed a large bull flag on the macro level charts, imo it will go up! Here's hoping for news before then, and a hard bounce. :)
I respect that experience and you may be on the money. But imo a Reverse Split would do additional damage to the share price with sellers currently being so aggressive (so why would they do that now?). Another more bullish possibility is they are closing a deal. A neutral possibility is that the audit is just taking longer than usual, could be a slow audit team or delayed processing of the official filings by the OTC/SEC.
We won't know until we know! (Or until their PR guy actually PR's something, haha.)
I like those charts! But ENZC is different than MVIS in that the portion of ENZC bound in the flag lines is currently looking like a Head & Shoulders reversal pattern. Those don't always materialize but if this does, we'll be back in the trips. We just punched thru support at the 50/200 day MA so if we don't get some green days soon, things could start getting pretty messy.
Overlayed the yellow to your chart to illustrate:
Is this conjecture or can you-cite a source?
Today was rough but -6.25% is alright for a terrible tuesday. Hopefully this flattens out soon to buy more time for audited fins. (Apparently they need a lot! haha. At least we know it's coming.) :P
I think we are too, just hopefully before share price gets too much lower! Even though the last few months have been rough for ENZC, they've also been full of exciting news. This is way more established already than a lot of OTC companies.
True that! Hopefully the TA helps illustrate why.
9 cents is valid and definitely in play here:
It would be the triple bottom support line if the price slips past the 50 and 200 day moving average. (The chart already double-bottomed on 4/16 and 5/10. Triple bottoms are less common, but totally a thing.)
I will be pleasantly shocked if we hold the line on bloody tuesday without news. :P
So far, support has been strong along that 50 and 200 day moving average line. But we've retested that triangle resistance like 10 times and failed every time. Highs are getting lower indicating weakening bulls. Trading is funneled tight into that triangle tip and theoretically price could go up instead of down at breakout. But why would it, unless we get a stronger indication that the delayed fins aren't because of a BAD thing? With no news, I would expect sellers to take us down to the next level of established support ($0.09 unfortunately)
Lows have also been getting higher, and volume is very low, which is why I personally didn't liquidate today.
I'll wait until it happens! This is bearish today but still coiled up like a spring.
(If a reverse split happened while the bears were in control, they would short it to all heck. The sensible time to do a RS is after a big run and strong higher support levels are established. OR at the bottom when there's nothing left to lose (we are far from the bottom))
Those audited fins were were promised are way late! I would expect any other company to drop some PR reassuring investors. If there's some other deal in the works, there's still ways to spin the PR so it doesn't reveal anything. But radio silence? That's the same as bad news!
Here's hoping the bears finally run out of shares to sell. Sellers have been running the show most of this year.
Imo what happened end of day is an example of what's known as a bull trap! Very clever manipulation. If we get news over the weekend or Monday, it creates additional FOMO and helps drive upward momentum. If we DON'T get news, it gives the MM's the option to ride early momentum on Monday before spiking PPS sharply down. In the meantime it leaves traders conflicted.
GLTA!