Enzolytics Inc (ENZC)

[foxi]

TA in case anyone can use it:

Circling back to update the charts from last week.

Nothing particularly exciting on the 4h chart. We did revisit low .04's and now a break to the upside without company news seems iffy. Observations include lower average volume, RSI drifting lower, MACD staying red, and trading trapped inside that descending triangle. Getting closer to the apex, so we'll see which way it breaks in a few days.


4h chart




The weekly chart has some interesting notes. If ENZC is to continue its long downtrend, I anticipate a red week next, to keep the 9 week moving average below the 20. I circled a couple occasions where these two MA's got close together and the market rejected with stronger downward movement. Current bearish signals include the recent death cross, RSI drifting lower, MACD cooling toward crossover. Not shown are bollinger bands, but the 20 week MA acts as the midline (so this week's candle has taken a strong plunge into the bottom band)

GLTA


Weekly chart: