Contrary to the report by loop capital... I foresee the beginning of a long-term bearish trend based solely on TA. To be clear, I don't disagree with the analysis of loop capital, I just think that TA is more honest and it suggests that we are likely to test the bull band and perhaps drop below it.
That being said, I plan to swing trade the shares, sell CC and open Long Synthetic Futures because regardless of the bearish trend, their position to manufacture batteries and license them out could allow them unlimited growth. That being said, it would require leadership and networking skill by the executive staff to close those deals.
And now that is recovered to 18, it looks as if ENVX will continue on to a new bearish leg approaching strikes of 13.5-11 by January of 2023.
livingdraculaog
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Sweet, it's officially reached the first take profit zone on the short. We see some evidence of recovering to 18.5 and may continue following the bottomline in a bullish channel.