Enzolytics Inc (ENZC)

[foxi]

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