Enzolytics Inc (ENZC)

[foxi]

Charts - This is now completing the same formation (head and shoulders) that characterized the market action around June of '21 and Jan of '22 before ENZC returned to downtrend.

Head and Shoulders is a bearish reversal pattern. Relating to ENZC specifically, the pattern has shown itself during ENZC's temporary market corrections every 4-6 months for two years. Barring any catalyzing news, the October/November '22 market cycle is looking par for the course.

I've also drawn a triangle using recent highs and lows. There's a chance trading is trapped in this range for a few more days as investors wait to see how the company handles its filings due. The triangle apex is 11/21, but we should see candles breaking before then as a critical mass of investors realign their expectations to company performance.

News can redirect a chart. Will we get news?


Included the 50 day moving average line to show where this could go next, if it breaks down.