ENJ trying to close above upper band of bull flag; seeing some consolidation. Support held at 38.20% fib and we've been able to close above 2.896 key area of resistance (3x support on previous swing lows), but still below 50 EMA.
Technical: 1. MACD - Histogram getting smaller and red lightening. MACD line below signal, under 0.00, flattening out from obvious downtrend. 2. BB - Candles near lower band 3. RSI - 43. Line moving toward upside. 4. EMA - Above 128, 200; below 50.
If price can close above flag line, 50% fib, and 50 EMA, possibility we see upside is high. At that point, we should see MACD looking to move above signal line from below. Place entry accordingly.
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