ENJ needs oil for it's engine
Momentum-wise ENJ is neutral. Nothing on MACD, lows aren't moving.
The only thing that makes me a slighly more bullish than bearish is that highs are making new lows but lows don't make new highs.
Normally this occurs at the period of accumulation. Whales are trying to get as much cheap ENJ as possible before the pump. Think of this as if you're pushing the water down the fire hydrant and not able to push it further. What will happen next?
If you're able to watch this trade during the day, put stops behind that support zone, watch the action and move your stops as price grows
This might get interesting soon.
Good luck and see you around :)
The only thing that makes me a slighly more bullish than bearish is that highs are making new lows but lows don't make new highs.
Normally this occurs at the period of accumulation. Whales are trying to get as much cheap ENJ as possible before the pump. Think of this as if you're pushing the water down the fire hydrant and not able to push it further. What will happen next?
If you're able to watch this trade during the day, put stops behind that support zone, watch the action and move your stops as price grows
This might get interesting soon.
Good luck and see you around :)
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