Enzolytics Inc (ENZC)

[foxi]

I agree with the beach ball analogy but .17 is where the 50 and 200 day moving average lines currently sit. If the price were to go to .12, all moving average lines would be sorted bearishly from slowest to fastest. (So I doubt .12 would be the bottom!)

I could see them taking it down to .17 via a small breakout to squeeze a few more days out of this triangle. Anything below .17 is questionable for longs because we'd be seeing lower highs, lower lows, and return to the trajectory of a strong bearish trend.

On the macro level we're staring at a huge head & shoulders pattern that may or may not still be in play.