Friday, April 30, 2010

NNVC - Elliott Wave update

There is a lot in the chart below, maybe too much, but I have been using these tools since 1994 and they are about 75% accurate, so there is a three out of four chance that the implications for future price movement are on the mark.  The trend models are even more accurate, but are more of a lagging indicator then this EW analysis, which is more prospective.   Between the two tools, there is a high confidence suggestion of much higher prices to come, once the trend model joins in.

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. 


1 comment:

Anonymous said...

Mmmmm, carrot with cream cheese frosting. Now were talking. Oh, yeah. NNVC to the moon!