Same. The next support level is around .054 at the 200 week moving average, if "support levels" are still relevant to this ticker. :P
ENZC's daily chart has been in breakdown for 8 days now. (Going by RSI.) Just like breakouts, breakdowns usually don't last long. The longest breakdown I've seen this year was 24 days, during which the ticker in question slipped into breakdown on the weekly chart and lost an additional 90% of its value. For ENZC, with so much red and nothing catalyzing until later in January, breaking down on the weekly is indeed a possibility, in which case that .02 short profit target my software keeps calculating may actually be a lot closer to the bottom than .054.
The gamble is, whenever this finally reverses, it has potential for at least a dead cat bounce that might pop pretty hard. It's way oversold and there's still a lot of retail interest to take advantage of the oversoldness to buy for a flip or to hold thru 2022.
Down here buyers' dollars stretch further. We're seeing slightly increased buy volume but real volume (buy or sell) hasn't come in yet. Price could keep trickling lower or suddenly move fast in either direction. Remember the rule "volume precedes price" ie higher volume can legitimize a security's price action.
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