ENGY - Enviro-Energy Corporation (ENGY)

[growacet]

I'm liking the look of ENGY's chart...

The volume is drying up...but given that over 150,000,000 shares have been reported as trading over the past 6 months, well I'm not too surprised. Over that 6 month period those buying have been doing so despite TB's resignation, no IR efforts and a new low reached back in October. I consider it possible those buying in spite of the bad news and lack of promotion may be waiting for some positive movement...as am I.

ENGY is rated neutral across the board here:

http://www.stockta.com/cgi-bin/analysis.pl?symb=ENGY&num1=41&cobrand=&mode=stock

And as wait at americanbulls.com which I take to mean the same as neutral:

http://www.americanbulls.com/StockPage.asp?CompanyTicker=ENGY%20%20%20%20%20%20%20&MarketTicker=...

The chart in of itself however is encouraging in my opinion:

http://stockcharts.com/def/servlet/SC.web?c=ENGY,uu[w,a]dallyiay[dc][pb50!b200][vc60][iUp14,3,3]&...

Stochastics turned up, and with them being well below 20 (both fast and slow) the indication is oversold. The one caveat I would throw in is that the volumes are currently so low as to render TA less reliable in my opinion...hence those neutral/wait opinions are likely very sage.

As to the volume picture, a look back from early July to present indicates that when volumes do pick up...on balance the price moves have tended to be positive.

Hope everyone is having an enjoyable holiday season Even those that take issue with my bullish outlook here.