Enzolytics Inc (ENZC)

[foxi]

Until yesterday there was no recent candle anywhere near .20 to give us a data highpoint to compare to earlier highpoints. If you've been watching you'll notice that descending triangle pattern (bearish) has been called out by the charts for weeks, and the rising wedge (bearish) for days, with all the meta analysis of lawsuit developments, twitter hype, FOMO, and news catalysts offered in support.

I agree wholeheartedly. I guess we are supposed to believe a chart can track bearish sentiment of ENZC holders over 1 year and their frustration levels. Yesterday's charts were all rainbows and unicorns and now a dark cloud cover. We had no news, good or bad, how is the chart so wrong? I am sure the chartists are well intentioned but not much more.

The thing is, the TA is tracking bearish sentiment of ENZC holders (long term descending triangle), and their frustration levels are evident in how their money moves (lower highs so far after major breakouts.) Today's crash was a surprise to me, but well within the realm of reasonable outcomes. That's why Dark Cloud Cover exists and has a name.

I welcome counter-analysis if there's any! People saying this is too big to fail isn't very convincing. We'd all like to see this go up. <3


https://www.ig.com/us/trading-strategies/16-candlestick-patterns-every-trader-should-know-180615

https://www.investopedia.com/terms/d/descendingtriangle.asp

https://www.investopedia.com/terms/w/wedge.asp