Enzolytics Inc (ENZC)

[foxi]

It's mostly a hunch. ENZC has talked a big game and people have been patient to see them deliver. If they miss milestones or performance is underwhelming, especially now in March and early April, the rhythms are right for the ticker to trend down another level.

It doesn't seem to take a ton of volume for price to drop. Not sure if sell pressure is disgruntled longs and MM's piling on with short selling, or people with past conversions who still have shares to sell, but probably a mixture - coupled with lack of interest from new investors.

I'm also concerned about new tranches of shares becoming unrestricted and the controlling parties then steadily dumping. The latest unaudited filing shows hundreds of millions of Common Restricted shares which may or may not have become unrestricted since September, and we have no visibility almost six months later into new conversions or issuances, including Series B which insiders issued to themselves which can be converted into Common. I'm looking forward to the next filing to clarify some of this activity.

https://www.otcmarkets.com/otcapi/company/financial-report/311215/content


Here's the rhythm visualized. Head & shoulders followed by flat trading followed by steady decline on low volume. Coincides with a steady rhythm in MACD. If the pattern continues as it has, we're set up for a shift toward bearish momentum and another period of decline. (Which is extra likely if the March to remember is underwhelming.)





While I'm showing charts, the bollinger bands are the narrowest they've been in ages, so any big news end of month could really send this.

Bollinger bands are pink dashed and light blue 20 day moving average, dark blue is 200 day moving average.






In the bigger picture, this is finally starting to bowl out, so maybe we stop seeing drops and it slowly begins to build value again. Or trades flat indefinitely around these levels.