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I actually expect this earnings announcement to be a snoozer ... it will be the next earnings announcement that means more and the critical one will be 3rd quarter in November.
Which is in 2 days... the last two were doozies. Hopefully Healy can put together a cohesive ER and clear guidance with the new PJM rules now in effect.
I like the way 5.10 held this morning...and that 5.11 is as close as it can get this afternoon. This was the low on February 5 before it tested the 50 DMA. It may be wishful thinking, but I believe a test of the 200 DMA is what we will see next with some trepidation at 5.65.
It will be interesting to see if it can close above the 200 DMA. If so, the next test will be 7.73. I don't expect to see it over the next 2 months, but a close above 7.73 would be extremely bullish. In fact, I will be surprised by a close above the 200 DMA in that time frame as I expect trading to be range bound between the 50 and 200 DMA until the next earnings announcement...barring other news of significance.
A good day....we broke 5.40 for a while and the lowest trade was above the lowest trades last week. Volume continues to be weak suggesting no one is willing to sell.
We broke the 5.35 high of 2/17...now let's see if we break the 5.65 high of 2/4. If we do, the next resistance will be around 7.73 so that could be a very nice run.
I remember an analyst saying that when MSFT came public and you had $10,000, if you had bought 10 stocks, $1,000 invested in each (one being MSFT) and 9 of the other stocks went bankrupt within 10 years, you still would have made a mint with that strategy.
Like you I am optimistic about the long term prospects for ENOC. In fact, I recommend it to friends as a "speculative, mattress stock". The idea being if you buy this in a portfolio of such stocks in five years you will get above market returns. That said there is a high likelihood that on or more of the stocks in this speculative portfolio will fail...and I can't guarantee that ENOC will not be the one that fails.
In addition to my mattress position, I also trade this stock because its volatility provides lots of opportunities for short term profit. This makes me very interested in establishing points to buy and sell my trading positions. From this short term perspective, I believe a move up is more likely than a move down...but I don't see the $25/share suggested by another poster within the next 6 months and can only imagine a few scenarios where we get close to that within the next year.
Yes, that looks about right. I'll take that. I'm in for the long term. I also think the risk/reward here is huge being long the stock. Downside should be limited and there's potential for huge upside. I've been in and out of this stock several times, but now it is a hold (until the 20's?).
There are several items supporting your notion.
1) For the last 6 days the low has been higher each day. It has been quite a while since we have seen ENOC do that.
2) Over those 6 days volume has been shrinking suggesting no one is willing to sell at these prices
But I think the break upward will not run much above the January 25th high of 7.73. I expect significant resistance at that level. Additional resistance is likely to be encountered at 8.50 and 9.79. If after finding the resistance, it continues to trade above the 200 DMA, that will be bullish. But I expect it to find the resistance and then fall back to trade between the 50 and 200 DMA until the next earnings announcement.
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