ENW.VN stock analysis Update: Likely Bottom found in ENW.VN

The bottom of this downtrend was expected to occur based on previous analysis located here: ENW.VN -> EnWave, stock finding support, Signs deal will Kellogg Company

Today the price found support at the Bollinger band resulting in a long tail.   There was sizable volume today compared the the previous 9 days.

The picture becomes clearer when we look at the 15 minute chart.

Two major volume spikes  in the middle and at the end of the day. The bottom appears to be the 1.70 level. It appears for now at least that a higher weekly close is likely in Enwave (enw.vn). 

A possible explanation on what happened today in Enwave can been seen from the Wikipedia entry on Market Trends, where they explain market capitulation.

Market capitulation (from Wikipedia)

Market capitulation refers to the threshold reached after a severe fall in the market, when large numbers of investors can no longer tolerate the financial losses incurred.^[13] These investors then capitulate (give up) and sell in panic, or find that their pre-set sell stops have been triggered, thereby automatically liquidating their holdings in a given stock. This may trigger a further decline in the stock's price, if not already anticipated by the market. Margin calls and mutual fund and hedge fund redemptions significantly contribute to capitulations.^{[citation needed]}

The contrarians consider a capitulation a sign of a possible bottom in prices. This is because almost everyone who wanted (or was forced) to sell stock has already done so, leaving the buyers in the market, and they are expected to drive the prices up.
The peak in volume may precede an actual bottom.

 The key is the few lines.
Firstly, Confirms that capitulation is considered by some to be a bottoming event.

Enwave (ENW.V) experienced capitulation in the middle of the day when prices broke 1.80.  Large sell volume was followed by strong buy volume around 1.70.   Then by the end of the day, continued buying potentially confirms the reversal.