A few things stick out to me with this long. Enj broke out of the ascending triangle and then successfully tested it as support. The MACD histogram is swinging to the positive side and macd will be crossing to the positive side. The RSI is holding above 40 which is bullish. If this is wave 5, since wave 3 exended to about the 1.618 FIB, then wave 5 should go to about the 2.168. Which also correlates with the .618 to .65 FIB. Also, I think the ichimuku cloud will push it up as well.
Looking at the ribbon, it also is showing great support with the ascending triangle support.
TP 1: 988
TP 2: 1220
TP 3: 1382-1425
SL: 720
Looking at the ribbon, it also is showing great support with the ascending triangle support.
TP 1: 988
TP 2: 1220
TP 3: 1382-1425
SL: 720
Note
I haven't updated ENJ in a bit. ENJ is stuck in the channel currently. I measured it out and if it breaks out TP should be about 933
MACD histogram is looking bullish. It's been teasing us with crosses and had multiple fake outs. The RSI is holding strong above 40.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.