Chart above I posted the other day during trading hours as it...

Chart above I posted the other day during trading hours as it brokeout of the Descending Broadening Wedge on the Daily Chart, going on to touch 2.8c for the day. I usually provide a bit of an explanation in my chart analysis on what the patterns mean but found this diagram that explains it really well and the ENV chart matches that explanation perfectly for the setup.

Doesn't mean a stock will shoot straight up to that "price objective" target, but as it explains 81% of the time the objective is reached when these patterns form.




Chart from today so far, you can see the upward channel rather than a rising wedge (also your starting point is a little off and that makes quite the difference between a parallel channel and a wedge).

I can see a pullback to the 2.6c level after it reaches the first "price objective" target of 3.3c; which would keep it within this channel.

To add further, as a few others have noted, currently the overall pattern/trend is the start of Wave 3; which tends to be the largest and strongest move and this would take it beyond the 3.3c target of that descending wedge, once it finishes its move. Unless markets take a negative turn overall, it should remain in accumulation for today and tomorrow before another run up next week.