ENVX - ARMY Contract Maybe Undervalued

NASDAQ:ENVX   Enovix Corporation
* Meant to put this on the ENOVIX thread*

A Couple things to note is Enovix has been on a steady rise and has had bullish catalyst released. It's on the hook to hit the next leg. Lame pun for the Hook showing on the chart pattern

" Enovix said the agreement moves the program toward full volume production. The cells will be used to build pre-production CWB packs.

The advanced silicon battery company said the deal is for it to produce commercial cells for use within U.S. Army soldier's central power source, called the Conformal Wearable Battery.

" - MarketBeat

This launched the stock price to $19 ON JULY 6TH.

SPY being on an extreme bull run and new 52 week high ENVX following a similar pattern.

ENVX, RSI on close to oversold, Williams showing the stock is curling. ENVX is currently aligned with SPY and have the same exact pattern It may run up with SPY so long as it remains bullish.

I Expect it to touch at least $25 but theres a lot of turbulence up there as thats where it's been consolidating in the past. General consensus PT is $38.

ENVX has an average rating of buy and price targets ranging from $15 to $100, according to analysts polled by Capital IQ.

Trade Responsible,
Good pop early in the week. Moving accordingly 🏄🏽‍♂️🌊


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