The NNVC Daily Trend Model reversed from Long to Short on April 19th, at $2.01. Today, NNVC is 15% lower and is flirting with its 50 day moving average. You can see how this level has provided price support in the past.
As I have written may times, I don't actively trade NNVC, but that philosophy cuts both ways and anyone holding from the April 15th high of $2.57 is getting clobbered. But remember it was only about a year ago when NNVC was trading under $0.50 and I was banging the table to get into it at a bargain price. Thus with the stock up over 200% since then, one could look at the drop to the 50 day moving average as normal and maybe even another buying opportunity.
A
6 comments:
i sure hope so but this action makes me wonder
Allan,
Do you have any ideas how we can profit from the credit rating downgrades of Greece, Portugal and Spain? They are strapped with debt and not likely to come out of it anytime soon.
Thanks,
You are smart to encourage folks to short NNVC, Allan. Maybe there's something to your charts after all.
It's all my fault. My wife asked me this morning where was the price of nano and I told her it had been holding above $2. It's the jinx.
Or....this is the somewhat regular take-down pattern we have been seeing since January.
I'm still holding.
Some saved you azz David!
Allan, Does this drop and rise fit into a wave pattern correctly?
Thanks TM
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