Enzolytics Inc (ENZC)

[foxi]

NGL this chart isn't looking good:

Today was a Dark Cloud Cover candle, which signifies decisive bearish reversal. Here I've plotted a rising wedge since late August and a descending triangle since early June that so far are both confirmed by this week's price action.

The rising wedge showed a breakout to the upside which is not common. The Dark Cloud Cover candle implies this may have been a short lived "false breakout" and that price will fall back through the wedge to the downside. The problem is bearish momentum could continue to the downside until it reaches point 5 of the descending triangle, where further breakdown is likely.

Volume analysis still shows a huge gap around .145 and this is where I think price is moving next. To fill the gap we can either have buy volume or sell volume, but this could be the dropping-off point for a major selloff.

The short profit targets for this perfect storm are in the single cents. Frustrated longs are hitting their 1y and the company has yet to deliver meaningful news, or to address its challenges in a transparent way.

I know many will interpret this analysis as FUD but I'm just reporting the charts and known catalysts. IMO we need news ASAP to avert a bad outcome. The James Hicks interview and any surrounding news drop is kind of the last opportunity to reassure investors before things could maybe get really ugly.

GLTA