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Maybe news coming too, but this is natural market momentum. It traded into a triangle point, broke thru resistance and bears got overwhelmed.
What will really move it is if we get to breakout on the 1 day RSI.
The 1 minute RSI fluctuates a lot! Trends might come and go within, well, minutes. Right now on TD I'm seeing 56 on the 1 minute, 68 on the 1 hour (which ran as high as 85 today), 72 on the 4h (currently in active breakout), and 61 on the daily (likely approaching a major breakout).
Breakouts on the scale of days are significant because they tend to last longer than the intraday charts and result in multi-day runs that move the price a lot. ENZC has had daily breakouts that lasted just one trading day, and others that lasted two trading weeks (like the run that took it to $1 earlier this year)
Analytics aside, I'm very excited to see price moving up!! And it looks like big volume has NOT moved in on it yet. (Volume is very strong today at 83 mil, more than double from yesterday, but I can scroll backward and see a day last year where 1.2 billion shares traded. At subpenny prices, to be fair.) Now if there could only be catalyzing news at the same time, it could be a perfect storm... :)
Here's a cost basis calculator I made in case it might be helpful to you too. It's hard to add money to a stock that's way down, but that's exactly what's needed in a lot of cases to more quickly exit the position.
https://www.dropbox.com/s/qub6ium0ljzr1fn/cost_basis_calculator.xlsx?dl=0
You have to weigh if you still believe in the company and if its fundamentals haven't changed in a bad way, and weigh if it's worth putting more money into something that might take awhile to rebound when there might be better newer opportunities today.
If you still believe in the company and you're correct that PPS will eventually bounce back, doubling down while the price is rock bottom can help bring your loss back up to zero (or into the green) since the money you'll be making on the cheap shares will be offsetting the money you've lost on the expensive ones. (They average out to a break even point somewhere in the middle of the range.) I've used this technique a few times to escape some bad investments.
On HMBL, I decided to stop adding funds when it fell out of the $2.80s because I tried their Block ETX products and wasn't impressed with them. Hoping it'll run now so I can exit at a small profit.
Looking back, several breakouts have happened at around 57 RSI on the daily charts (RSI is currently at 54.5 on my daily chart). If it breaks out soon it could give us the golden cross (an extremely bullish indicator) where the 20 day moving average crosses the 50 day. I'll be chasing it tomorrow with a late buy order because I think it has a lot more headroom.
This is also a good read:
https://www.benzinga.com/news/21/05/21112568/why-retail-investors-will-no-longer-be-able-to-invest-in-certain-securities
If companies on the Pink Market are not in compliance with the new regulations in time, they risk losing their public market. While the SEC set September 28 as the compliance date, OTC Markets Group has given these Pink Market securities until June 30 to review the new guidelines and provide the necessary information to ensure they meet the new standards in time.
For investors, that September deadline is when you will see the non-compliant securities drop out of the Pink Market.
One last pump and dump! Good DD, ty.
https://www.dorsey.com/newsresources/publications/2009/03/going-dark--voluntary-delisting-and-deregistrati__
Many companies which “go dark” are sold or cease doing business within a few years after “going dark.”
Looks like it's about to escape the wedge:
https://ibb.co/7Yk0FH4
I think I drew the wedge lines slightly askew on the original chart. It's hard to nail it until the bottoms and tops actually happen. The reasoning behind today's jump is still the same - the 9 day moving average crossed the 20 day, and we just achieved a bollinger band crossover and are ready to test the high band for a possible breakout:
https://ibb.co/nmrzGxb
https://ibb.co/Msm0wVL
Once a stock escapes a wedge, it often bounces back down and ricochets off the top of the wedge as support. Or once it breaks out, it might just go straight to that 50 day moving average line at $0.16. If we do, it's a short gap up (and briefly past?) ~$0.20ish where I think it'll settle & trade flat pending news.
More analysis in the original post:
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=164056673
Technical reasons it might reach $0.15 this week:
(All chart candles are daily!)
https://ibb.co/KbkTyDD
^ Trading is trapped in a tight triangle and only getting tighter. It'll reach a breaking point and do something new.
https://ibb.co/bKZczpM
^ For the very first time since the bear run in March, the 9 day moving average is about to cross above the 20 day. That crossover would be a bullish indicator.
https://ibb.co/KFv3775
^ Bollinger bands are getting extremely narrow, as they typically do prior to a breakout and new major trend. (Look at how narrow they were in November and January right before major movement. Think of a spring coiling tight, about to rebound in a burst of energy.)
Other technical indicators suggest that we have reached a strong support level, which should prevent the price from falling down another support level. Additionally, there's been nothing but good news from ENZC. So I think it'll break out upwards.
-------------------------
Path to $0.15: Thursday the 9 day moving average should hopefully finish crossing the 20. That would break it out the top of the triangle (or nearly so!) and one of several things might happen:
- It breaks straight through the middle and top bollinger lines and rushes to meet the 50 day moving average at about $0.16. That would probably position us for a very strong Friday.
- It crosses over the middle bollinger line but gets trapped against the top of the triangle (around $0.14). That sets it up to hopefully break out of both the bollinger and the triangle on Friday, or close lower Friday and break out Monday/Tuesday next week on the second test of the bollinger high band.
Any big news over the weekend would greatly amplify the breakout.
Very excited to see what happens!! :)
I actually tried several Humbl Block ETX products:
- I did not use the "Active Products" because those way underperform the market by using laggy indicators. (Just look at the buys and sells on the MACD bot's performance chart, for example. The bot buys BTC halfway through a trend, skips the highs, then sells at the bottom for a loss...)
- The 'passive' products amounted to Humbl making the initial buys through my crypto exchange API and then doing absolutely no rebalancing whatsoever. Completely missed capitalizing on several trending coins that were part of the Block portfolios. Even rebalancing once a month would solve this. (I would expect a minimum of twice a month, that's the whole idea of an ETX and the crypto markets move fast.)
I ended up canceling my account. No reason to pay them $5/month if they are totally hands off. Anyone can buy crypto and forget about it for a few months for free. :/
Happy to see Humbl acquiring Monster Creative, presumably to help with marketing. Long term I believe Humbl Pay still has potential, and the team can still make something out of this company if everyone gets their act together. Short term I doubt Humbl's share price will be going up.
Hoping so! Here are my charts/analysis:
https://ibb.co/0FHmwkL
and
https://ibb.co/JzwNFh4
IMO it may take a couple more days to reach breaking point, but Mondays tend to be strong so it might move sooner. I don't think it'll fall down another support level, but I wouldn't be surprised if bears test the low again before it pops higher.
I'm looking for a short & fast pop, profit taking pulling it back down quickly, and ending at higher lows kicking off a slow and steady longer term uptrend.
Good luck to all! <3
Here are some personal charts and analysis:
(The blank chart without commentary is at the end of this post.)
https://ibb.co/XZwnthP
We seem to have bounced down off the bottom line in the Fibbonaci retracements around $0.1575 on the price chart. If bulls keep pushing we'll test that point again and hopefully break through.
I forgot to mention the moving average lines in my analysis. (The three blue ones on the price chart at top.) There hasn't been any crossover yet, which suggests we may still actually be in the same bear trend that started back in early February. But the shorter term average lines are at an extreme distance from the long term one, and it seems that gap is starting to close. I reckon we'll see all three meet in the middle around the strong support line at $0.2250 sometime in early May to form a Golden Cross, and PPS usually moves up in a new bull trend from there. Alternatively, we could have a small rounding top and then trade pretttty flat around $0.10-0.15 for weeks waiting for a news catalyst. (If there was no foreseeable news at all, I would say this is still trending down and hold onto my money. But I think the company is making progress too quickly now for share price to stay in downtrend.)
This charting setup has been working pretty well for me but I'm definitely still learning! I use a totally different set of charts for volume analysis. Whoever's big into charts and analysis, please me know if you'd recommend a different mix, or tools you'd recommend I add. Cheers!
https://ibb.co/PwPCdPW
Have fun at the beach!
Those are some great cartoons! :)
On my 15 minute volume chart it looks like it's consolidating into a great big bull flag.
https://ibb.co/HzmLf1m (I don't know how to upload images here, sorry.)
( Related: here's a great video about Volume Profile charts!
I have no choice but to wait! :o)
Bought in around $0.06 and you bet I've got my sell order in place, haha! I think my money could do better elsewhere - but I'm keeping a few shares just in case, 'cause ynever know!
This is long, but a great watch:
End-of-Day Bull and Bear Traps - Al Brooks
You're welcome, glad it looks to be helpful!
I posted a second reply earlier but I ventured too far into politics and the mods nixed it. (As they should, haha!) Long story short, it's hard to say where markets are heading under the current admin and it's very important to diversify your holdings. Don't leave crypto out of the mix, it has its merits trading outside any one country's control.
Good luck to you and may your future tickers be a lot more green. :)
The market naturally balancing itself, imo. PPS had lost value all the way down to where investors originally took interest and started it moving in the first place. At the point of deepest depression the pendulum naturally swings back the other way if the company's fundamentals haven't changed.
Also the company issued an optimistic sounding press release. https://finance.yahoo.com/news/enzolytics-reports-progress-multiple-therapeutics-120000770.html
Good advice, thanks!
Awesome & congrats! :) Someday I'll hopefully be in that position as well, but for now I'm on fixed income and okay with higher risk/reward to maybe get 2x-3x (or find one like ENZC and maybe get 10x). I've done okay on a couple of blue chips, but I sold most of those to fund pennies and crypto. At this stage in my journey, traditional growth is too slow! I am a fairly new investor, studying my butt off and still learning the ropes.
I trade penny stocks because I love that they have so much room to grow. Especially the subpenny ones. If the companies ever make something of themselves, it can be thousands of percent profits. A lot harder to do that with stocks that already trade in the dollars.
Here is a quick and dirty cost basis calculator I made in case it might be helpful. It's hard to add money to a stock that's way down, but that's exactly what's needed in a lot of cases to more quickly exit the position.
https://www.dropbox.com/s/qub6ium0ljzr1fn/cost_basis_calculator.xlsx?dl=0
You have to weigh if you still believe in the company and if its fundamentals haven't changed in a bad way, and weigh if it's worth putting more money into something that might take awhile to rebound when there might be better newer opportunities today.
If you still believe in the company and you're correct that PPS will eventually bounce back, doubling down while the price is rock bottom can help bring your loss back up to zero (or into the green) since the money you're making on the cheap shares are offsetting the money you've lost on the expensive ones. (They average out to a break even point somewhere in the middle of the range.) I've used this technique a few times to escape some bad investments.
Thanks!! <3 There's a pretty delicious gap up to $0.20, I'm hoping tomorrow forms a nice lil U shape on the daily with strong buying. From there I'm anticipating we'll flatline and consolidate at higher lows until the next big news. Still a win!
Same! I have nearly 50 companies in my portfolio and most were red until today. (If they continue their trend, the green ones will get much redder through the week.) Got suckered into a bunch of clever pumps while the market looked hot, only to get a hard slap in the weeks after. Been studying like crazy to avoid the same mistakes in the future. These days I'm putting more money into crypto to help mitigate risk. (Ofc crypto is risky too, haha!)
I am wary because a lot of this board seems to be putting emotion first when making decisions, and generally that's how people lose money. But there's been some fantastic DD shared as well. ENZC has far more potential catalysts than I've seen in my other companies, and a product people want - and I'm excited about where it might go. :)
That is entirely possible and the future is uncertain. But I think this company has too much momentum to stay stuck for long. If you hold long enough, imo you'll make your money back even without lowering your cost basis. Best of luck!
KMC if you missed this earlier, something to consider: While PPS was $0.10, you mentioned you'd lost 90% listening to pumpers on this board. If you've lost 90%, that's equivalent to buying in when shares were $1.
This is the perfect time to average down! While shares are $0.15, if you now buy in at 40% of whatever you invested initially, you lower your break even point by HALF. Spend about 90% as much as your initial, and your break even point is now 1/3 what it was yesterday.
The numbers were much better while the PPS was $0.10 but right now it's still a pretty good price. If it keeps trending up (and I believe it will) you can sell all your positions (the old and the new) at your new BEP with no loss.
Today's press release name-dropped lotsa partner universities and talked about timelines. https://finance.yahoo.com/news/enzolytics-reports-progress-multiple-therapeutics-120000770.html
So glad I was able to buy a few thousand shares while the price was so low! I'm still in the red overall but hopefully not for long.
Based on my charts and metrics, PPS has been growing mostly at breakout speed. There's a real chance it'll fall back to about $0.10/share or hover for days at $0.12/share because those are established levels & too much sudden upward momentum is hard to sustain. But RSI was well above 50 practically all day and there's also a real chance it may never see $0.10/share again after today's presser.
If you're deep in the red and can afford to buy some even at $0.15, that's a good move -- and if you just want to hold and wait, you'll do just fine thataway too. ;)
Cheers!
Long here for as many shares as I can afford, will keep adding them every paycheck, especially while the price is down.
I have an OTC portfolio of around 50 companies. I took longs very carefully and have spent countless hours in DD and analysis. Almost all my positions are in the red because the OTC market has not been following its natural patterns, to say the least...
When you have a lawless admin with a lawless SEC that's willing to enable lawless MMs, the PPS will stay down until the powers that be are willing to move it (or until the company does something so big that new investors pour in and set a new trend)
I'm buying the bottom/averaging down because I believe the pendulum will swing back. But it'll probably be months or years.
In the meantime, crypto is where it's at! 24/7 trading and no country in control - it's a much freer market. :)
If you've lost 90%, that's equivalent to buying in when shares were $1.
This is the perfect time to average down! If you spend 12.5% of whatever you invested initially while shares are $0.10, you lower your break even point by HALF. Spend 30% of your initial and your break even point is now 1/3 what it was yesterday.
As soon as it bounces (and I believe it will) you can sell it all at your new BEP with no loss.
(I am personally down about 50% so definitely buying now to lower my average.)
With all due respect, tell that to the biopharmas who are already selling covid vaccines. (And ENZC's work is expressly useful for improving covid vaxxes, too.)
Loading up on Monday to average down. No way fair value is a dime after all the interest and new money since November; it's been worth more than a dime to investors all the other days since mid-January!
About ~430,000,000 shares changed hands the last three days. That's $50,000,000 ish of buying. For perspective, in the 30 days Tuesday and prior, something like ~730,000,000 shares traded IN TOTAL.
The price drop is inexplicable (I haven't read any bad news) and follows new exposure at EGC earlier this week. Smells like big money is loading up?
@StocktonCA, Great article, thanks for sharing. Found another good one in the links: https://www.griproom.com/fun/if-a-stock-drops-5-for-no-reason-its-being-manipulated
"When a stock is red you can either spend your time doing research or reading nasty comments on stock message boards. The latter is pointless and will depress you further. It’s also potentially harmful because it can be tough to tell who is a real person, who is a bot, who is a short-seller, or who is a paid manipulator.
Research is a better way to spend your time when a stock is red.
Research will calm you down."
0.54 (cup breakout) - 0.17 (cup bottom) = 0.37,
0.54 + 0.37 = 0.91 possible profit target
The above math is a bit conservative and takes into account volume charts. (vs the highest high and lowest low) I've seen them finish their run higher or lower depending on news/momentum and how aggressive bulls or bears have been. AABB is in a hot space (crypto), has had some good news in the last few days and the bull run prior was pretty solid, so I'm optimistic for $1 or more here.
Don't aim too high or you'll have to catch the next wave. Good luck! <3
(I can't post any more today until a mod approves my account)
It's forming a textbook cup and handle on the 4h, read up on that pattern to learn your profit targets.
(IF the bulls can keep this new momentum!)
The lows and highs on a candle chart keep overall getting higher. There is no guarantee this will always go up, but whenever the company keeps adding value or people keep seeing it as valuable, it will be worth steadily more long term.
Any time it rises or falls faster than the market is comfortable with, the market will adjust itself. If the price skyrockets in a few days, it'll probably overextend and adjust down in a harder bear trend for a few weeks - before repeating the cycle again (hopefully at higher prices).
Youtube is your best friend for learning when to buy and sell! Tons of free investing education videos on there.