Technical Analysis
Currently trading at $.068, ENZC stock has supports at .066, .059, and .054. The stock shows resistances at .0696, .076, .081, and .091. After a 35% increase, ENZC fell back to its support at .066 before bouncing back slightly.
ENZC’s run was triggered by several strong catalysts and with more news expected soon, the stock could start regaining ground. However, right now ENZC is consolidating and could break out either way. For this reason, traders looking to start a new position should look for a sign of which direction the trend is heading before taking a new position.
Entries
The stock tested the 200 MA two times yesterday, if it breaks out above it then this is a bullish sign, as 200MA break indicates a trend reversal. and investors could enter on confirmation of the breakout. However, if it fails to break the 200 MA, ENZC could fall through the 50 MA and VWAP. I would look for consolidation at its .059 support before taking a position in anticipation of a rebound similar to the 17th. The .059 has proven multiple times to be a very strong area of support, showing that buyers see that price as undervalued.
Trim Levels
$.081 appears to be a strong resistance and investors could take profit leading up to this resistance. There could be a pullback at the .0767 resistance which is another place to trim. A break of .081 could send the stock back above a dime, which could be another trimming level, possibly keeping the rest for a bigger run, if momentum continues
Short Term – 5min
Currently trading at its 50 MA, if the stock breaks through it will likely fall back to its support at .066 or lower. Considering its upcoming catalysts and that the stock typically traded between $.07 and $.09 for most of 2022 – anything below .066 could be an opportunity to add on shares in anticipation of the market’s rebound. As is, .081 is a hard resistance but the stock could be looking to retest it as the MA draws closer for a possible golden cross. Accumulation is currently showing a slight downtick after falling on the 17th. Meanwhile the RSI is at 48, which is cool enough to allow for another run .
Long Term – 1 hour
ENZC experienced a decline in April which led it to its strong support at .054. However, for most of 2022 it traded above .07. It ran up roughly 80% as the company released IPF Immune and introduced its future plans. As the company is expected to release more press releases regarding not just sales and efficacy of IPF Immune but regarding ITV-1 as well, a strong catalyst could push ENZC out of its current channel past $.10 and back to all time highs.
Overall Recommendation
ENZC is likely a long term hold and in light of its plans to begin marketing ITV-1 in several African countries before seeking EMA approval for the EU. Right now, it appears that ENZC could bounce back to old highs as news rolls out. For those willing to hold their position long-term, I believe adding shares below .0597 could payoff once the stock begins picking up more volume.
However, as it consolidates near the 50 MA and VWAP I believe it’s safe to wait for a break in either direction before taking a new position.
ENZC Stock Forecast
At the moment, ENZC stock has a long list of catalysts ranging from plans to uplist to their ground-breaking patents and technology partnerships. The company’s potential to treat HIV and prevent the spread of certain diseases has made it particularly attractive to investors who believe that at the current ENZC stock price, the company is undervalued. With this in mind, now could be a potential entry point for bullish investors as the company finally released its immune system supplement.
It is important to note that companies in this industry are moved by binary events, and investors could wait a long time before seeing a return on their investment as ENZC seeks to commercialize its treatments. The company could see profitability in the long term due to its valuable patents which could bring sizable value to the stock in the future. But in the short-term, ENZC is already capitalizing on the nutritional supplements market with the launch of its IPF Immune supplement. With the company promising to release the efficacy tests results for IPF Immune, ENZC stock price could be able to push past its resistance at $.0821.
Currently trading at $.068, ENZC stock has supports at .066, .059, and .054. The stock shows resistances at .0696, .076, .081, and .091. After a 35% increase, ENZC fell back to its support at .066 before bouncing back slightly.
ENZC’s run was triggered by several strong catalysts and with more news expected soon, the stock could start regaining ground. However, right now ENZC is consolidating and could break out either way. For this reason, traders looking to start a new position should look for a sign of which direction the trend is heading before taking a new position.
Entries
The stock tested the 200 MA two times yesterday, if it breaks out above it then this is a bullish sign, as 200MA break indicates a trend reversal. and investors could enter on confirmation of the breakout. However, if it fails to break the 200 MA, ENZC could fall through the 50 MA and VWAP. I would look for consolidation at its .059 support before taking a position in anticipation of a rebound similar to the 17th. The .059 has proven multiple times to be a very strong area of support, showing that buyers see that price as undervalued.
Trim Levels
$.081 appears to be a strong resistance and investors could take profit leading up to this resistance. There could be a pullback at the .0767 resistance which is another place to trim. A break of .081 could send the stock back above a dime, which could be another trimming level, possibly keeping the rest for a bigger run, if momentum continues
Short Term – 5min
Currently trading at its 50 MA, if the stock breaks through it will likely fall back to its support at .066 or lower. Considering its upcoming catalysts and that the stock typically traded between $.07 and $.09 for most of 2022 – anything below .066 could be an opportunity to add on shares in anticipation of the market’s rebound. As is, .081 is a hard resistance but the stock could be looking to retest it as the MA draws closer for a possible golden cross. Accumulation is currently showing a slight downtick after falling on the 17th. Meanwhile the RSI is at 48, which is cool enough to allow for another run .
Long Term – 1 hour
ENZC experienced a decline in April which led it to its strong support at .054. However, for most of 2022 it traded above .07. It ran up roughly 80% as the company released IPF Immune and introduced its future plans. As the company is expected to release more press releases regarding not just sales and efficacy of IPF Immune but regarding ITV-1 as well, a strong catalyst could push ENZC out of its current channel past $.10 and back to all time highs.
Overall Recommendation
ENZC is likely a long term hold and in light of its plans to begin marketing ITV-1 in several African countries before seeking EMA approval for the EU. Right now, it appears that ENZC could bounce back to old highs as news rolls out. For those willing to hold their position long-term, I believe adding shares below .0597 could payoff once the stock begins picking up more volume.
However, as it consolidates near the 50 MA and VWAP I believe it’s safe to wait for a break in either direction before taking a new position.
ENZC Stock Forecast
At the moment, ENZC stock has a long list of catalysts ranging from plans to uplist to their ground-breaking patents and technology partnerships. The company’s potential to treat HIV and prevent the spread of certain diseases has made it particularly attractive to investors who believe that at the current ENZC stock price, the company is undervalued. With this in mind, now could be a potential entry point for bullish investors as the company finally released its immune system supplement.
It is important to note that companies in this industry are moved by binary events, and investors could wait a long time before seeing a return on their investment as ENZC seeks to commercialize its treatments. The company could see profitability in the long term due to its valuable patents which could bring sizable value to the stock in the future. But in the short-term, ENZC is already capitalizing on the nutritional supplements market with the launch of its IPF Immune supplement. With the company promising to release the efficacy tests results for IPF Immune, ENZC stock price could be able to push past its resistance at $.0821.