Enzolytics Inc (ENZC)

[foxi]

Awesome close this week! Looks like bulls rallied and pushed this off of the bottom bollinger band. RSI is higher, weekly MACD is inching closer to eventual crossover, and bollinger bands are slowly getting narrower.

Curious to see how far the substantiated rumors of an NDA can take ENZC prices next week. There's also a short settlement date on Wednesday the 15th which may mean less sell pressure for a couple days. (If the MMs are naked shorting, they can't expose that on the short report. We've often seen a decrease in sell pressure as presumably they cover and sit tight before the settlement date before starting another round of selling. I don't know if they're naked shorting, this is just a theory.)

Next week I expect this to touch the bollinger midline on the weekly and maybe rise a little above, then close in a red candle for the week. Hopefully it doesn't eat up the whole green candle. The following week the chart would support a crossover into the high band if we're still trading anywhere near the midline. Unexpected news trumps charts, so things could always move faster.


Weekly chart. Dashed pink and bold blue are bollinger bands and 20 week moving average. Dark blue is 200 week moving average.