Enzolytics Inc (ENZC)

[foxi]

You're welcome! Something I should add, I've been using Volume Profile and gap analysis to make profitable trades for awhile. But the volume rollup & gap identification changes depending on what timeframe I measure!

Here I've included a chart measuring Jan 1 2021 to present. It shows a different point of control and different gaps in the volume rollup. This is because the longer timeframe includes historic volume before and after ENZC's big run in January. The earlier chart only measured the last 180 days.

In my opinion, if trading has bounced around in whatever range for a few months, historic volume has less meaning, though it shouldn't be completely ignored. ie the market has accepted and rejected different levels in the 180 day range multiple times regardless of the older patterns established under different catalysts and market conditions. That's why I usually measure with a 180-day timeframe and more or less ignore the past. I'm a swing trader so this makes sense.

BUT if ENZC is almost ready to make a bigger move up as part of a longer term trend, say to move closer to a dollar than a dime, historic volume DOES matter. In that case, the chart I've included here shows the biggest nearest gap to be .153, and it may not even need filling. There are well-established levels at .12, .126, .168, .19 already and the bulk of uncharted territory is at higher prices.

I added two red lines to show how short term trading might actually be trapped in a side channel. If that's the case, Friday was near the low and the next stop should be .177-.200 again. This is supported by strong buy volume both times at prices near the lower red line. ie that could be a loading zone in this side channel. Flipper's paradise. :)

I guess we'll know Monday! If this is in a side channel I would expect to see it dip first and then strong buy volume swoop in to scoop up the day's cheapies for a close within the channel - the rejected dip would help fill that gap around .153 as rallying bulls snatched up bears' shares.