Sunday, November 23, 2014

ENZY Enzymotec Weekly Chart

ENZY set up with positive divergence (green lines) on the daily and weekly chart as Keystone called out previously and the move off the bottom occurs (green arrows). Keystone took profits exiting the ENZY long trade and does not plan on reentering at this time. ENZY may do some backing and filling considering the wild gaps higher. The indicators have some upside juice. The money flow oddly printed a lower low (red line) but since the indicator is buried in the cellar that can be excused. On the daily chart, the upside explosion appears to want to rest for a few days. A retreat to 7.1-7.2 would be a nice place to consider reentering.

ENZY has gusto and may simply keep shooting higher to 10.5 before retreating. If you have gains maybe scale out so you can squeeze a bit more juice out if price continues higher. For now, considering the strong upside spike that has just occurred for ENZY rewarding the bottom-pickers, and that the broad stock market may be placing a multi-year top, watch and wait may be a prudent strategy for Enzymotec. For the real risk takers, you may want to gun for 10.0-10.5 in the very near term. If price moves under 8, it will probably want to come back to the 7.1-7.2 mentioned above. This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here. Consult your financial advisor before making any investment decision.

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