Monday, June 14, 2010

UNG Weekly Buy Signals


Below is a Weekly chart of UNG which as of today is in BUY PENDING mode.  This means that if UNG closes the week at or above current levels, it will trigger a Weekly BUY Signal. 


Not only is the Weekly Trend Model closing in on a fresh BUY,  the requirements of an Advanced GET Mechanical Buy Signal are also present.  Those requirements are:

(1) Measured five wave decline;
(2) Divergence in Elliott Oscillator (lower study);
(3) Break-out above Trend Regression Channels.

You can see on the above chart that the Trend Regression Channel from the previous wave iv high is coming in this week right at the Trend Model Reversal Level, so again if prices close the week at or above current levels, both the Trend Model as well as the Advanced GET mechanical Buy Signals will be confirmed.

A

6 comments:

Anonymous said...

NNVC UPDATE,as I see it.

studied the chart for the last hour.

Its closing into a triangle terminal. Has to do something big now...UP or Down.

Target blast up looks like 1.90 and 2.00 resistance short term.
target down looks like the finish of wave 5 at 1.30 area,maybe 1.40 holding.

the positive story favors a blast UP.
the wave count favors one more down dip that follows the greater market in the next day or two. pulling back from the last 2 up days.

The 1.30-1.40 zone has to be considered a 'buy zone'

1.90 - 2.00 has to be considered a 'sell zone'

(hate to sell....but thats the greater market trend movement now...until NNVC demonstrates a superior power beyond the downtrending market...such as holding a base at 1.40 then holding a base at 1.80 then holding a base at 2.00 and soaring to 3.00 and up from there)

Allan said...

It's not that I dispute your analysis, its just that I like mine better, its simpler within the context of a three-pronged trade strategy. Buy here (especially if confirmed by weekly close) with a stop at the previous wave v low or trend reversal.

Potential reward = 150% (mid-range of projected wave 4 rally); Risk about 15% (previous low and/or trend model reversal). That's 10-1 in my book.

A book? Now there's an idea.......

Anonymous said...

I'm keeping an eye on the SP500 200-day moving average at 1108. If it breaks up we could be in for a quick lift to the 50-day. If it can't break out then it could back test lower levels or worse. I suspect we could see a quick move either way by the end of the day.

Terry

Allan said...

I bought the July $8 calls yesterday @ $0.91 and they are up about 10% today. I am looking for a triple digit win on this one, although making 10% per day on trading ideas works too.

Allan said...

UNG is $8.54, you can go artifcial for hurricane season and sell the Jan $8 puts for .97 and buy the Oct $7/9 bull call spread for $1 so that’s net .03 on the $2 spread that’s aready $1.54 in the money. If you are willing to own $4K of UNG long-term then you can sell 5 of the put contracts and buy the bull spread and you either get the stock or you might get paid $2,000 not to own it, which is preferable as the stock has tax issues.

---from PSW

t said...

NNVC made the big move I foresaw. I wasnt able to know which direction.

It popped to 1.95

But on top of that more good news is being reported and more endoresement from the biotech newsletter (P.Cox )in his current update alert.

Understanding just how good NNVC is ,allays much of my concerns for the stock falling victim to the downtrending market direction.

If there can be any stock which could hold up against the distressed downward economy and market,it would be a stock like NNVC.

Standard technical analysis would suggest important resistance here in the 2.00 zone,and coinciding with the markets fib correction zone (which we are entering now,at S+P 1120)(1115-1150)

some kind of pullback from this breakout move would not be surprizing. from 1.60 breakout up to 2.00 shows simple Fib math
(1.65-1.80) 1.75 has alot of prior S/R

Creating the next solid base at the 1.75 area but allowing for 1.50 seems like the next best zone for buying. Unless one feels compelled to start chasing the stock now.

My gut feeling is we might get one more chance at the 1.60 area sometime in a month or so,hard to predict.If the rally in market exhausts itself as it should,in the next few weeks,or a month at best,and the big foreboding next wave Down commences.... it will be interesting to see where NNVC goes.
After reading Patrick Cox's latest update summary, I decided I wont be selling.
I feel the same also about BTIM and ISCO.