Thursday, February 25, 2010

NNVC 240 minute chart

NNVC 240 minute

I really like these 240 minute charts as they are acting like sturdy and reliable bridges to Daily Trend Model reversals.  An ancillary bonus is another Elliott Wave count giving perspective between intra-day and Daily counts. 

In the case of NNVC, the 240 minute is suggesting a target range of 1.55-1.75, which supports the Daily target of 1.60-1.80

A

7 comments:

Anonymous said...

Allan, the chart seems to indicate an EW of 4 after wave 3. Since wave 3 has been well defined on the chart or if it is not it will be around $1.70, does it mean the chart is saying wave 4 will take it down to $1.20?? TIA.

Allan said...

There is no way to determine if or when Wave 3 will be complete, in fact, other then looking for divergencies in the Elliott Oscillator (not shown above), this is a guessing game at best.

Unlike the trend models, which don't guess, just reflect and follow along.

A

t said...

Side Note regarding UPWRF

stock is pulling back today,as expected.... watch for more to a settled level in the coming days.
If any folks are interested in a buy zone....I see the zone between the 1.20 and 1.50 area. key fibs around 1.35 and 1.50

this is a homerun stock.

Anonymous said...

NNVC isn't in the email service is it?

t said...

NNVC is in a place that needs watching now.

I see it has finished a wave 5 and is at a key target area(1.40)
AND is set to respond now to the timing of the full moon cycle (monday march 1)

there is key s/r level at 1.30 (important trendlines cut right thru it)
which might hold nnvc in place.
there is 1.20 underneath that s/r
and the 'danger' in the price action is that nnvc will hold at 1.20 bounce up to 1.30 and Fail badly there...and reverse hard down.
1.00 would be one down side target

and some time to establish a solid bottom which could be anywhere between 1.00 and .80 (by my charting)

Depending on what the price action is in the next 2 trading days, we might see the current top target has been hit now at 1.38....and the next cycle is down to test and establish a bottom.

When you describe these higher targets in the 1.50 and 1.70 range.... I might see those targets as the next wave up from a new bottom that hasnt been established yet in the coming cycle.

the cycle timing I see.... suggests that the current wave up is finishing now.

the next wave is down,ABC correction. dont know how fast that might happen.

There is an outside chance between now and the next 2 trading days that IF nnvc makes a fast move down into the bottom zone of 1.00 area, there could be a great whipsaw reversal on tuesday march 2 as part of the current cycle timing..... but thats elaborate speculation right now.

What looks more compelling is the resistance line at 1.30 and 1.20 and the battle zone there...which upon failing would spell the wave down to establish the bottom in the new cycle. Something like this would have to take some time to play out,beyond the next 2 or 3 days....

so my outlook is that the current top is in at 1.38....and lower price is forthcoming,as correction ABC down in the next few weeks plays out.

target down ..... 1.00 area
failing to hold there goes to .90 and .80 area.

t said...

...one last obsewrvation

looking at the nnvcx chart again shows that the wave 4 established a bottom at 1.10 and there looks like a few touches of the 1.10 as a bottom so that may be the bottom target for testing..... before a move to test 1.00

1.10

Anonymous said...

and after all that prattling on my part.... all you needed to do is look at Allan's chart and see those red scratch marks at 1.10

I just like to hear myself talk i guess.