NNVC: EW Analysis & Daily Trend Model
This set up is referred to in Advanced GET as a Mechanical Buy Signal. Its termed mechanical because although it uses subjective underlying themes, they are applied in a purely objective model, i.e. if X and Y, then Z.
(1) Elliott Wave Count - three waves up & one wave down (as a Wave 4);
(2) Buy signal on the False Bar Stochastic;
(3) Decline in the Elliott Oscillator to the zero line;
(4) Wave 4 retracement to a key Fibonacci level;
(5) Prices break out of Regression Trend Channel (Wave 4 break-out).
Add to the above, a Daily Trend Model Buy signal will occur on a close today above $2.36. This paints a compelling picture that Wave 5 has begun, with an initial target of $3.25-$4.00.
I should preface all of this with a, "probably" since all of the above is based on probability theory, the wave counts, the mechanical signals, the trend models, even the Wave 5 targets. There are no guarantees, no perfection, no done deals. Just a mountain of probabilities that NNVC is headed up to the $3-4 range in the coming weeks. To start the run off, we need a close today above $2.36, that in my opinion would be the icing on the cake...........carrot cake with cream cheese frosting.
A
1 comment:
Mmmmm, carrot with cream cheese frosting. Now were talking. Oh, yeah. NNVC to the moon!
Post a Comment