Enzolytics Inc (ENZC)

[foxi]

There was a ton of buy volume (hitting the ask or better) coming out of the breakdown last week. I drew a red arrow to show the relatively huge green bars. Insane that the smallest fraction of that volume can already take away half our gains a couple days later.

In this chart you can see the VWAP (pink line) I was talking about. Anytime price trades above it it's bullish, anytime price trades below it we're bearish. Traders will periodically test the VWAP and try to cross, when bears cross and bulls don't answer, bears take control, and vice versa, usually with a decisive pop in whatever direction. It should ping-pong off VWAP in a steady downtrend until bulls successfully cross in a future test. (Bulls technically have 15-30 more minutes to answer or could hold the line flat in a free market, but yeah..)

Volume Zone Oscillator shows bears willing to sell far outside the neutral zone, bulls seem unwilling to buy at these prices.