ENOVIX CORP. - Daily - Technical analysis published on 03/14/2024 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Strongly bearish
Technical indicators
17%
67%
17%
My opinion
Bearish under 8.70 USD
My targets
7.35 USD (-7.31%)
My analysis
All elements being clearly bearish, it would be possible for traders to trade only short positions (for sale) on ENOVIX CORP. as long as the price remains well below 8.70 USD. The sellers' bearish objective is set at 7.35 USD. A bearish break of this support would revive the bearish momentum. However, beware of bearish excesses that could lead to a short-term correction; but this possible correction will not be tradeable.
Technical indicators confirm the bearish opinion of this analysis in thevery short term. However, be careful of excessive bearish movements. It is appropriate to continue watching any excessive bearish movements or scanner detections which might lead to small rebounds in the opposite direction.
Force
0
10
7.7
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This analysis was given by PawelBodytko. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The ENOVIX CORP. rating is 7.93 USD. On the day, this instrument gained +0.00% and was between 7.70 USD and 8.16 USD. This implies that the price is at +2.99% from its lowest and at -2.82% from its highest.7.70
8.16
7.93
The Central Gaps scanner detects a bullish opening. A small advantage for buyers in the very short term.
Bullish opening
Type : Bullish
Timeframe : Openning
A study of price movements over other periods shows the following variations:
New LOW record (1 year)
Type : Bearish
Timeframe : Weekly
New LOW record (1st january)
Type : Bearish
Timeframe : Weekly
New LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
A technical analysis in Daily of this ENOVIX CORP. chart shows a sharp bearish trend. The signals given by moving averages are 92.86% bearish. This strong bearish trend is confirmed by the strong signals currently being given by short-term moving averages. There is no crossing of moving average by the price or crossing of moving averages between themselves.
An assessment of technical indicators shows a bearish signal.
But beware of excesses. The Central Indicators scanner currently detects this:
RSI indicator is oversold : under 30
Type : Neutral
Timeframe : Daily
CCI indicator is oversold : under -100
Type : Neutral
Timeframe : Daily
Pivot points : price is under support 3
Type : Neutral
Timeframe : Weekly
Price is back under the pivot point
Type : Bearish
Timeframe : Daily
The analysis of the price chart with Central Patterns scanners does not return any result.
The presence of a bullish Japanese candlestick pattern detected by Central Candlesticks that could cause a very short term rebound was also detected:
Bullish harami cross
Type : Bullish
Timeframe : Daily
ProTrendLines
S1
R1
R2
R3
Price
| S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|
| ProTrendLines | 7.35 | 7.93 | 8.70 | 10.01 | 13.11 |
| Change (%) | -7.31% | - | +9.71% | +26.23% | +65.32% |
| Change | -0.58 | - | +0.77 | +2.08 | +5.18 |
| Level | Intermediate | - | Intermediate | Minor | Intermediate |
Pivot points can also be used to set your price objectives. Here is the price situation in relation to pivot points:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 5.37 | 6.36 | 7.14 | 8.13 | 8.91 | 9.90 | 10.68 |
| Camarilla | 7.44 | 7.61 | 7.77 | 7.93 | 8.09 | 8.26 | 8.42 |
| Woodie | 5.28 | 6.31 | 7.05 | 8.08 | 8.82 | 9.85 | 10.59 |
| Fibonacci | 6.36 | 7.03 | 7.45 | 8.13 | 8.80 | 9.22 | 9.90 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 8.00 | 8.51 | 8.80 | 9.31 | 9.60 | 10.11 | 10.40 |
| Camarilla | 8.87 | 8.94 | 9.02 | 9.09 | 9.16 | 9.24 | 9.31 |
| Woodie | 7.89 | 8.46 | 8.69 | 9.26 | 9.49 | 10.06 | 10.29 |
| Fibonacci | 8.51 | 8.82 | 9.00 | 9.31 | 9.62 | 9.80 | 10.11 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 4.74 | 6.84 | 8.29 | 10.39 | 11.84 | 13.94 | 15.39 |
| Camarilla | 8.77 | 9.10 | 9.43 | 9.75 | 10.08 | 10.40 | 10.73 |
| Woodie | 4.43 | 6.68 | 7.98 | 10.23 | 11.53 | 13.78 | 15.08 |
| Fibonacci | 6.84 | 8.19 | 9.03 | 10.39 | 11.74 | 12.58 | 13.94 |
Numerical data
The following is the status of technical indicators and moving averages registered at the time this technical analysis was created:
Technical indicators
Moving averages
| RSI (14): | 29.75 | |
| MACD (12,26,9): | -0.6000 | |
| Directional Movement: | -20.29 | |
| AROON (14): | -78.57 | |
| DEMA (21): | 8.74 | |
| Parabolic SAR (0,02-0,02-0,2): | 9.64 | |
| Elder Ray (13): | -1.20 | |
| Super Trend (3,10): | 9.95 | |
| Zig ZAG (10): | 7.97 | |
| VORTEX (21): | 0.7300 | |
| Stochastique (14,3,5): | 16.54 | |
| TEMA (21): | 8.42 | |
| Williams %R (14): | -79.34 | |
| Chande Momentum Oscillator (20): | -2.17 | |
| Repulse (5,40,3): | -12.6600 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.5600 | |
| Courbe Coppock: | 33.13 |
| MA7: | 8.81 | |
| MA20: | 9.76 | |
| MA50: | 10.27 | |
| MA100: | 10.85 | |
| MAexp7: | 8.69 | |
| MAexp20: | 9.45 | |
| MAexp50: | 10.21 | |
| MAexp100: | 10.92 | |
| Price / MA7: | -9.99% | |
| Price / MA20: | -18.75% | |
| Price / MA50: | -22.78% | |
| Price / MA100: | -26.91% | |
| Price / MAexp7: | -8.75% | |
| Price / MAexp20: | -16.08% | |
| Price / MAexp50: | -22.33% | |
| Price / MAexp100: | -27.38% |
Quotes :
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15 min delayed data
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NASDAQ Stocks
News
The latest news and videos published on ENOVIX CORP. at the time of the analysis were as follows:
- Enovix to Present at J.P. Morgan Industrials Conference
- Enovix Announces Fourth Quarter and Full Year 2023 Financial Results
- Enovix to Release Fourth Quarter and Full Year 2023 Financial Results on February 20, 2024
- Enovix and Group14 Announce Collaboration to Develop Best-in-Class Silicon Batteries
- Enovix President and CEO Dr. Raj Talluri Receives Executive of the Year BIG Award for Business
This member declared not having a position on this financial instrument or a related financial instrument.
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