Enovix had a rough day and is now down -8.99%. Investors weren't too impressed with the future outlook for the asset which caused some selling on weak demand. It looks like ENVX may be interacting with a slightly angled support line. This area could represent a pivot point that it moves up from. Enovix hasn't been that impressive in terms of its 3 month momentum, it has been breaking down lower so we'll see if it can turn things around and move up from here.
If the price bounces off of the support and moves up it'll probably head up to the $6.28 level, at which point it may hit some selling pressure. There aren't very obvious support levels beneath this point. So put those stop losses on, this thing has room to fall if buyers don't come in at this level.
