Enzolytics Inc (ENZC)

[foxi]

I haven't posted charts in awhile. Sometimes it feels like this ticker is controlled by an algorithm that can make the charts say whatever it wants. But for what it's worth, here are a few notes:


Using weekly charts,


CHART 1:

Death cross happened mid November of last year. A death cross is a bearish signal where a faster moving average (MA) crosses below a slower one. (50 MA and 200 MA here.) https://www.investopedia.com/terms/d/deathcross.asp

Trading this year has been trapped in a symmetric triangle, with the exception of a false breakout in May. Trading returned to the triangle range and is currently still within its bounds. https://www.investopedia.com/terms/s/symmetricaltriangle.asp | https://www.investopedia.com/terms/f/failedbreak.asp

It's possible that Savov got his shares near the May breakout, and possible that the company was diluting during that time frame as well, plus we got the SAGA announcement and the announcement of trials in Africa.

The last dozen or so weeks have shown unusually high volume, which can sometimes signal increased volatility, ie the flurry of action before a bigger move.

MACD on my chart shows converging lines, suggesting the market is nearing an articulation point. This and price funneling into the symmetric triangle, suggests a bigger upcoming move is possible. MACD lines will ultimately cross lower (bearish) or reflect higher (bullish), but move very slowly on a weekly chart.





CHART 2:

Looking at candles only, on a macro level, if there's a breakout higher there could be a massive Inverse Head & Shoulders pattern in play. This would be bullish. We would need to see an uptrend that retests the highs from May. https://www.investopedia.com/terms/i/inverseheadandshoulders.asp





Chart 3:

Looking at candles only, trading since October has been following a bullish pennant pattern. ie this hasn't revisited October's lows. So far this shows the market rejecting those lows, which could result in continuation upward, if the market soon rejects the current price point as well. https://www.investopedia.com/terms/p/pennant.asp





Chart 4:

Somewhat unique to this ticker, about every 4-6 months for whatever reason, there's been another run. If this pattern continues, we'd be due for another one around Septemberish.