Envx weekly breakout

14 Jun 2023

After a long period of consolidating envx on the weekly has broken out of a major downward trend line at around the $12.50 level. It is currently forming an ascending triangle on the lower time frame charts. Along with the technicals the fundamental side of this company looks pretty good. I do expect more upside moving forward. Major support can be found around $12 to $12.50 area which would give best risk to reward if looking for an entry. Another idea is to wait for a couple daily closes over $14.75 for further upside.