ENVX Technical Analysis - ENOVIX CORP

Technical Rating and Analysis

Overall ENVX gets a technical rating of 7 out of 10. This is due to a decent performance in both the short and longer term time frames. Compared to the overall market however, ENVX is a bad performer.

When comparing the yearly performance of all stocks, ENVX is a bad performer in the overall market: 63% of all stocks are doing better.

ENVX is one of the lesser performing stocks in the Electrical Equipment industry. 70% of 93 stocks in the same industry do better.

Both the short term and long term trends are positive. This is a very positive sign.

ENVX is currently trading in the upper part of its 52 week range. The S&P500 Index however is currently trading near a new high, so ENVX is lagging the market slightly.

In the last month ENVX has a been trading in the 9.37 - 14.21 range, which is quite wide. It is currently trading near the high of this range.

ENVX has an average volume of 7641520 traded shares per day. This is a good sign as it is always nice to have a liquid stock.

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Technical Analysis

Relative Strength

ChartMill Trend Indicator

Simple Moving Average

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Weekly and Daily overview Charts

Setup Rating and Analysis

Although ENVX has an excellent technical rating, it does not present a decent entry opportunity at the moment. Price movement has been a little bit too volatile to find a nice entry and exit point. It is probably a good idea to wait for a consolidation first.

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ChartMill Technical Ratings

Pocket Pivots

Bull Flags

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Support and Resistance Analysis

8.03

15.06

3 important support areas can be observed.

Support @12.06 from a horizontal line in the daily time frame.
A support zone ranging from 8.57 to 8.63. This zone is formed by a combination of multiple trend lines in multiple time frames.
A support zone ranging from 8.11 to 8.20. This zone is formed by a combination of multiple trend lines in the daily time frame.

When analyzing the resistance we notice 2 important areas.

A resistance zone ranging from 13.20 to 13.20. This zone is formed by a combination of multiple trend lines in multiple time frames.
Resistance @14.91 from a trend line in the weekly time frame.

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What is Support and Resistance

Support and Resistance indicators

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Technical Indicator Signal Analysis

The Technical Rating and Setup analysis above combine different indicators and trends in different timeframes. Individual signals from indicators may give more contradictive signals and should always be interpreted in the more global context.

Indicator	Value	Signal	Comment
ChartMill Long Term Trend Indicator	UP	POSITIVE	The long term trend for ENVX is up.
ChartMill Short Term Trend Indicator	UP	POSITIVE	The short term trend for ENVX is up.
ChartMill Relative Strength	37.9	NEUTRAL	ENVX is not amongst the best or worst performers on the market.
Simple Moving Average/SMA (20)	UP	POSITIVE	The current price of ENVX is above the rising SMA(20).
Simple Moving Average/SMA (50)	UP	POSITIVE	The current price of ENVX is above the rising SMA(50).
Simple Moving Average/SMA (200)	UP	POSITIVE	The current price of ENVX is above the rising SMA(200).
Relative Strength Index/RSI (14)	67.93	NEUTRAL	The RSI value for ENVX is a neutral value.
Moving Average Convergence Divergence/MACD (12, 26, 9)	0.2	POSITIVE	The MACD value suggests ENVX has a positive trend, although the MACD value is declining.
Stochastics (14,3)	79.46	NEUTRAL	The Stochastics value for ENVX is a neutral value.
Average True Range in percent/ATR (20)	6.11	HIGH VOLATILITY	The high ATR as a percentage value for ENVX suggests high volalility.
Average Directional Index/ADX (14)	29.72	POSITIVE	The high ADX value value for ENVX suggests a strong trend.