Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Agreed! Welcome to the party! :)
I'm hoping it does this:
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=164593588
$0.21 EOD? Here's a chart and some TA:
Moving averages are sorting themselves out bullishly. I've included the 200 day to show its interaction with the 50 day. (The 50 day briefly crossed the 200, and pulling back above it could catapult price higher.)
It looks to me like we're starting to see a rounding bottom on the daily candles. If it forms, it could serve as a cuphandle for bigger movement next week. Here's hoping this can build some momentum! (Drop the audited fins, ENZC!)
As of this post, price is currently pinned by the 9 day moving average which is acting as resistance. But I doubt that line will hold for long. The next resistance level is the 20 day MA around $0.21. If we move there by EOD it'll be a nice green candle and a really positive signal for next week!
I included the triangle top that sheared off our last big run. (The straight purple line.) Any upcoming run will need to overcome that resistance line as well! Price is getting squeezed into a narrow range and pressure is building up -- something's gotta give.
Lmao, I love it! :)
Good find, thanks!
I agree, retail is not driving the big movement. Your firm algos / manipulation theory holds water, imo. The cat's away, so the rats will play.
You have many more years trading experience than me! Still hoping there's some charting rules that hold true. I've been having the most success with short term patterns and a few of the bigger triangles and wedges - but there are days when the market makes big unexplained movement in defiance of charts and indicators.
Definitely feel like stuff's been different since late January. Too many tickers mysteriously pumping/dumping in sync.
Keep in mind, Robinhood and Ameritrade (and how many others?) route orders thru market makers like citadel. So some of those sell walls are obfuscating retail and other traders.
That said, I'm sure the market makers are piggybacking their own shenanigans as well. They'll be cashing in whether it's shorts or longs.
Critical week for ENZC! Here's a chart:
If all the news we've been seeing is true, I believe this company is a potential industry disruptor. I believe in ENZC's mission and want to see it succeed for the good of humanity. I'm still long as of this post!
Nevertheless, market momentum cannot be ignored. Once a strong trend establishes itself, only groundbreaking news will interrupt it before it concludes itself naturally.
This bear selloff has been blowing right through support lines. Today it's critical that we see a bounce off the 50 day moving average, or that trading stays flat. It MUST NOT break out below the 50 day. (It can dip for awhile if the candles stay short.)
There's a great big head and shoulders in play, which is a common reversal pattern with rules that suggest how far price could fall. If the H&S fully materializes and continues the bear trend, lows would eventually be in the ones-of-cents (or lower). Hopefully it'll bounce instead.
(RSI is near its historic low points, so this might indeed bounce!)
Good luck to all!
I agree with most of your points, thanks for responding! Glad you like the charts as well! :)
To some extent I imagine CDEL and others trading against ENZC to artificially push price down. Sometimes they may also be acting on behalf of another group of shareholders who all want to buy or sell? (eg retail from Ameritrade or Fidelity or Robnhood or eTrade, funneled through CDEL by those brokers) These walls we're seeing aren't necessarily manipulation, more likely a herd of investors all making the same moves. That said, if CDEL et al can take endless pools of money and cash in on short sales, it's no difference to them if price goes down instead of up.
What worries me is ENZC's price performance matching up with other penny stocks that are known for dilution. Was asking around to see if anyone had anything more solid than hearsay that ENZC doesn't dilute, so I could hopefully rule out that possibility. We were due for a cooloff after that recent bull run, but I'd expect price to find its way to the established support line near $0.20, right between the $0.10 low and $0.30 high. Red candles were getting pretty small on Friday, so we'll see what happens at market open in six hours!
ENZC is a disruptor, I have no doubt that price will be up in the future.
Same here! The dilution is undermining confidence.
Prior to their covid vaccine, Moderna had zero successful FDA-approved drugs. The emergency use authorization allowed them to fast track to market and skip traditional drug trials.
https://www.wsj.com/articles/inside-moderna-the-covid-vaccine-front-runner-with-no-track-record-and-an-unsparing-ceo-11593615205
Hopefully their mRNA treatment was ready for market! (& human consumption) But the authorization definitely did big things for their share price.
If ENZC could get a drug onto the market through similar channels, I would expect to see a similarly impressive price jump.
Are we for certain there's no dilution? Saw somebody claiming ENZC had stated they wouldn't be diluting, but I haven't found a link to anything official yet.
I'm trying to gauge how/why investors would pump it from a dime to $0.30 in a strong bullish run, and then sell right through the support line at $0.20 immediately after. Who's still selling after all that big news?
On my chart it looks like bulls got trapped in a bearish triangle (ie price got squeezed by the triangle top, which acts as a resistance line, and the only direction to go was down) so I would expect a pullback. But price is threatening to fall all the way to the 50 day moving average on Monday, which would be a bearish bollinger band crossover as well. That seems to contradict the action that just occurred on presumably positive investor sentiment.
If Monday is a green day and we're super lucky, it'll bounce! Else if it can trade flat for awhile, we might end up with a cup and handle in a week or so. (Note it already failed the mini-C&H retest at $0.30) If it falls into longer term bear territory on Monday, we might have to wait out another period of dimes till trading can break out of that big triangle. :/ If dilution is happening it could help explain the continuing downward price movement.
Intel is also partially responsible for Aurora, an up and coming supercomputer. https://en.wikipedia.org/wiki/Aurora_(supercomputer)
Imagine the bragging rights if they worked with ENZC to run its AI on there and did tons of antibody sequencing in record time. Would benefit many industries and companies to work together like that. (And deliver cures to sick people faster!)
Pie in the sky speculation, but it's a nice thing to imagine at least! :)
You're welcome. It's hard not to paper hands this right now. I think we could see price hit $0.22ish over the next few days before it finally goes higher. Bears are out in force today.
If we're lucky it'll trade flat and skyrocket off that 9 day moving average line. :)
Same here, kinda weird.
TD Ameritrade's Thinkorswim for realtime, yahoo finance for news and casual charting.
My money is already making me money elsewhere, if MINE flies later, I can always buy back in. :)
Good luck to all!
It's trapped in a descending triangle (angular resistance line) and couldn't break through. If it continues down it should double bottom later this year and then hopefully break free. Earliest would probably be mid July, but they sometimes trade flat for a few weeks at the bottom. Good news could help it a lot. Sell/Hodling game for now.
Edit: added chart to illustrate:
Yep, coulda got double! Lowballed this time, hopefully there's no next time (but if there is, I learned stuff today!) :o)
Would still rather get somethin than nothing, so I'm happy about that.
I liquidated, once the shorts are covered I think the volume will disappear.
I tried the ETX products, my review is back here:
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=163984369
Been in and out of the stock several times (always at losses). I sold yesterday when it was trading in an ascending wedge. Am pretty convinced at this point that Humbl is building vaporware. (Hopefully I'm wrong!)
Will jump back in later if I'm wrong. XD
Watch for this cup and handle:
https://www.investopedia.com/terms/c/cupandhandle.asp
If the pattern completes, price could move pretty far. :)
I'm with you on some of this speculation, but it's still important to manage what you have and not give up hope or make reactionary decisions out of fear/depression/emotion.
If you have a lot of money at stake, take time to learn the tools and strategies to read charts and escape bad investments. Youtube is a free classroom!
Don't forget you can average down and lower your break even point, by adding more money when the price is low. (calculator at https://www.dropbox.com/s/qub6ium0ljzr1fn/cost_basis_calculator.xlsx?dl=0) If you're not sold on this approach yet, experiment on a few of your positions!
Another idea: I recently purged stock in about 30 different companies, and consolidated that behind companies that are in hotter industries, or have better fundamentals. Some of my sell orders were at 50-60% losses. I don't care which investments make my lost money back -- but some companies will make it back faster than others. Something to consider.
Good luck!!
Lots of charts and analysis! :) Here:
TLDR; charts are still very bullish.
I did this exercise for myself, but I'll share! Some charts are dense, so I'll explain them. Feedback/criticism is welcomed!
Here's a chart showing what I think just completed our first 5-wave uptrend. Once a trend forms after breaking resistance, Elliott Waves theory says we'll typically see movement in 3 major runs broken by 2 major pullbacks, and often the pullbacks have three articulation points, before the end of the trend.
More about Elliott Wave theory:
In volume analysis there's this notion that the market will often gap quickly through unknown levels, searching for a known level to retest participation. It's ultimately trying to find the area of most participants. So yes it's totally possible it'll fall back a few cents for awhile to help establish or consolidate at a previously undiscovered level. One such gap according to my chart is around $0.275
Or it could just ride the momentum and today's news over lunch hour, and skip all that! :)
True that pumpers are as bad as bashers!
And if you sold where you thought it'd stop, and made some green, good for you!
There's lots of enthusiasm from bulls when the market is bullish. Bears when it's bearish. And on it goes! This particular stock has good fundamentals, I don't think it's done going up yet.
Excellent!
It's in breakout on the daily. Now I'm watching RSI creep up on the weekly with plenty of headroom. Go ENZC!
To trade on Nasdaq, price per share must be $4 or higher, unless they qualify for the special $3 or $2 levels. (Most OTC companies need a $4 PPS, afaik)
https://listingcenter.nasdaq.com/rulebook/nasdaq/rules/nasdaq-5500-series
It's best to keep emotion out of it, or at least to not let emotion blind oneself or drive irrational decision making. Price is going up, and indications are it'll keep going up, so it's natural to explore what might cause resistance or a momentum shift.
Let's not forget the gigantic list of positives ENZC still has going for it, all the potential speculative catalysts, what organizations they're already connected to, etc.
A great DD page by gypsy7: https://www.notion.so/ENZC-Latest-News-19a6e9357bd9485a80fb84ad4e73cb7e
You are right! The high I quoted for HMBL was from its run in late January/early February, and the reverse split happened in late February after it had already started trading down. (It was already trapped in a descending triangle at that point - which isn't the fault of the RS, though the RS may have exasperated that - until it finally broke that downtrend in late May.)
Imo, a RS can have a psychological impact on retail investors and newbies who only hold a few shares. The sense of value diminishes and sense of risk increases, even though the math works out the same, since folks used to hold x shares and now they only hold a fraction of x. If a bear trend gains momentum, it's easy to imagine shorts having 'more room' to pull the price to pre-RS levels or believe the real bottom in a bear trend is much further down. And there's no shortage of OTC companies who use reverse splits in scams.
I agree with you as well that there is zero chance of a forward split happening with ENZC. As the company has been having rapid and continued good news, as well as rubbing shoulders with names like Intel, it may even be undervalued for now.
Personally, I'm having a blast trading ENZC, nice to see so much green again! :)
Excellent! Ty for the info.
That's what I mean when I say I'd sell ASAP after the RS and buy back in closer to the bottom. In the short term, recent OTC reverse splits I've seen have resulted in cratering price. I'd still want to reinvest in the companies if the fundamentals were still there. (But holding long through a bear run reduces liquidity/profits since that money is just stuck.) In a bearish and uncertain economy, RS seems to be a gold mine for bears.
That would be awesome~! :)
I don't think a reverse split is imminent, but it could happen later especially if management thinks it'll help fast track them to list on Nasdaq. (I think price has to be above $4/share to list on Nasdaq.) HMBL tried a RS in february and went from $7.72 to about $0.77 a share over the next few months, actually putting Nasdaq out of reach for that company for now. ENZC needs to get on OTCQB first anyway, so they still have some time for price to rise organically.
ENZC is about to see a Golden Cross:
https://ibb.co/ZLfMKL8
(1D chart)
A Golden Cross happens when a short term moving average crosses a long term moving average. Generally people use a 50 or 200 day for the long term average. (In the case of ENZC, it's about to cross both at once.)
Here's an explanation and some examples:
https://www.investopedia.com/terms/g/goldencross.asp
Very bullish!
Thanks for sharing your charts and insight! <3 I'll be learning about Elliot Waves now too! :)
I've been through three reverse splits this year and I have only seen prices crater afterward. It creates negative 'headroom' for bears and bears are keen to pounce on it under this particular admin/climate. If ENZC reverse splits, I'd absolutely sell ASAP, then wait to buy back closer to the bottom. ;)