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Enovix Corporation

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ENVX trade ideas

Technical Analysis of Enovix Corporation (ENVX)### Technical Analysis of Enovix Corporation (ENVX) #### Overview The chart shows the daily price movement of Enovix Corporation (ENVX) on the NASDAQ exchange. It features Fibonacci retracement levels, trend lines, and projected price paths indicating potential future movements. #### Fibonacci Retracement Levels The Fibonacci retracement levels are drawn from the swing low around early 2022 to the swing high later in the same year. The key levels identified are: - **0.236 (11.15 USD)** - **0.382 (13.99 USD)** - **0.5 (15.55 USD)** - **0.618 (17.57 USD)** - **0.786 (20.39 USD)** These levels can act as potential support and resistance zones. #### Current Price Action The current price is around **16.52 USD**, situated between the 0.5 Fibonacci retracement level (15.55 USD) and the 0.618 level (17.57 USD). The recent price action shows that the stock has rebounded from the 0.382 level (13.99 USD) and is testing the higher Fibonacci levels. #### Trend Lines The chart features a descending trend line from the highs in 2021, intersecting with the Fibonacci levels. There is also a shorter-term descending trend line providing additional context for potential resistance. #### Resistance Levels - **17.57 USD (0.618 Fibonacci level)** - **20.39 USD (0.786 Fibonacci level)** - **23.99 USD (swing high)** These levels are important to watch as potential resistance if the price continues to move upward. #### Support Levels - **15.55 USD (0.5 Fibonacci level)** - **13.99 USD (0.382 Fibonacci level)** - **11.15 USD (0.236 Fibonacci level)** These levels serve as crucial support zones in case of a price pullback. #### Projection The chart indicates a potential upward movement, with price projections suggesting a possible path towards 34.38 USD (1.618 Fibonacci extension level) by 2025. The projected path involves a series of higher highs and higher lows, indicating a bullish trend if these projections hold true. ### Conclusion Enovix Corporation (ENVX) is showing signs of a potential bullish reversal, with key support at 15.55 USD and resistance around 17.57 USD. Traders should monitor these levels for breakout or breakdown scenarios, considering the broader market trends and any significant news impacting the stock. ### Disclaimer This analysis is just an opinion and should not be considered as financial advice. Trading stocks involves risk, and you should do your own research or consult a financial advisor before making any investment decisions. Any profit or loss is the responsibility of the audience, and I do not take any responsibility in this regard.
NASDAQ:ENVXLong
by arblb1366
ENVX Strategy for next weekWe can see that price has surged due to positive news. headed towards a weekly sell side fair value gap, with a buy side faire value gap just on the extrimity of the red rectangle. So we swept all the stop buy orders and now potentially heading for the down side. We have also a weekly/daily order block that will serve as support. If you see the chart, on May 2nd we had good news, the price gapped up and came back to a daily order block before moving forward. How to trade : if price goes again into the red area on the daily tameframe, and closes again below it. we can short this, with a TP at the OB dashed line. if not, we can wait for the price to fall back to the OB dashed line, and bounce off of it before going long.
NASDAQ:ENVXShort
by Tskynome
3
failed to make higher highs -> how about higher lows?09/20 - NASDAQ:ENVX announced the acquisition of privately-held Routejade, an established Korean battery manufacturer for a total consideration of approximately 6.2 million shares of Enovix common stock and $16.5 million in cash assuming purchase of 100% of Routejade. The acquisition provides Enovix with vertical integration of electrode coating and battery pack manufacturing while adding an established lithium-ion battery business with factories in Korea, along with complementary products, customers, and suppliers. The transaction is expected to close in the fourth quarter of 2023 and be immediately accretive.
NASDAQ:ENVX
by KhanhC.Hoang
#ENVX Straddle /Trade PlanAccording to our observations a very large neutral position with exp date September, 15. Based on our team's research of the options market, we expect buy activity at the support level or sell activity at the resistance. We primarily consider levels to be activity zones, but not to be a super-fine level for establishing a limit order. Use them in combination with our own strategy, not in alone. We do the best research as we can to find new opportunities in the massive amount of information every day to help you make data-driven trading decision. Please feel free to leave any comments you have and like this idea if you agree with us. Any feedback or comments will be read. We appreciate it all!
NASDAQ:ENVX
by ClashChartsTeam
A price target of $50 is easy ... I'm betting for $500 long-termRecent demand overwhelming supply = Strong hands accumulation ... Now morphing into an IH&S base with measured target $50 on trigger ... Analyst forcasts via TipRanks: Based on 8 Wall Street analysts offering 12 month price targets for Enovix in the last 3 months. The average price target is $41.00 with a high forecast of $100.00 and a low forecast of $18.00. The average price target represents a 118.09% change from the last price of $18.80.
NASDAQ:ENVXLong
by KhanhC.Hoang
ENVX - ARMY Contract Maybe Undervalued* Meant to put this on the ENOVIX thread* A Couple things to note is Enovix has been on a steady rise and has had bullish catalyst released. It's on the hook to hit the next leg. Lame pun for the Hook showing on the chart pattern " Enovix said the agreement moves the program toward full volume production. The cells will be used to build pre-production CWB packs. The advanced silicon battery company said the deal is for it to produce commercial cells for use within U.S. Army soldier's central power source, called the Conformal Wearable Battery. " - MarketBeat This launched the stock price to $19 ON JULY 6TH. SPY being on an extreme bull run and new 52 week high ENVX following a similar pattern. ENVX, RSI on close to oversold, Williams showing the stock is curling. ENVX is currently aligned with SPY and have the same exact pattern It may run up with SPY so long as it remains bullish. I Expect it to touch at least $25 but theres a lot of turbulence up there as thats where it's been consolidating in the past. General consensus PT is $38. ENVX has an average rating of buy and price targets ranging from $15 to $100, according to analysts polled by Capital IQ. Trade Responsible, #TradeTheWave
NASDAQ:ENVXLong
by FinesseTheWave
Momentum will move ENVX back to its ATH before ChristmasThe recent spike in ENVX stock followed a purchase order from the U.S. Army. The latest purchase order is a positive step for Enovix as the company moves its U.S. Army program closer to full-volume production. The company is setting up the infrastructure for high-volume manufacturing and scaling its production. The company expects to produce 180,000 cells in 2023 from its Fab-1 facility. Further, the company recently announced that it has already achieved its Q2 production forecast of 18,000 units. Further, on the commercialization front, Enovix is progressing well with continued design wins. While the company is ready to scale, the broad applications of its battery technology continue to expand its TAM (total addressable market), offering significant growth opportunities ahead. ENVX’s battery technology has wide applications in consumer electronics, including wearables, mobile phones, and computing. Moreover, opportunities in new categories, including augmented reality, medical devices, and the lucrative EV (Electric Vehicle) market. According to TipRanks, ENVX stock has received seven unanimous Buy recommendations from top Wall Street analysts. Meanwhile, these analysts’ average price target of $45.67 implies 177.97% upside potential.
NASDAQ:ENVXLong
by KhanhC.Hoang
Roadmap for ENVX (Update)If ENVX advances, it will enter a fast moving area as shown on the one year chart between downtrend lines. Previous trend gaps and fast moving prices areas are shown in the rectangles. Will likely need a catalyst. Blue solid lines are established downtrends, green dotted lines are established uptrends. Both the uptrend and downtrend lines are established from equilibrium points, (not highs and lows). Thickness of lines illustrates strength of previous price action. Circles are the crossing of uptrend and downtrend, usually resulting in reactions.
NASDAQ:ENVX
by CrossfireTA