Enovix: double bottom, but distribution still active
Enovix slips 3% as the sell signal loses steam in its 2nd week
Enovix: double bottom, but distribution still active
Our view last week
Enovix opens a fresh sell signal, and the week just closed down 9.9%. The decline is making lower lows with pace holding: signal strength sits at 56 out of 100, with no sign of exhaustion. The stock ranks 15th among the 137 US sell signals, but a setup quality indicator of 82 out of 100 and elevated volatility push the quality band toward a high-risk read.
This week's summary
Enovix technical analysis: a double bottom in the 5.2 area with a 17% rebound, but the tape still reads distribution — only 8.5% of daily volume on the buy side and money flow in the red. The sell signal is in its second week, down 3% after last week's 9.9% plunge: signal strength reads "decline losing steam," and the weekly picture stays bearish. Trading not recommended on fresh entries.
IQS Phase
78
in tension
Signal Strength
16
decline losing steam
Sizing
MINIMUM
Ranking
#65 / 137
US stocks sell signals
Trade P&L %
+2.99%
from signal to today
restricted Platinum content