I'm looking to determine reentry points. I don't think your 2.75 mark to be too far fetched
This current downtrend is currently on it 17 day from 3.86 to a current low of 3.13 in the last couple of days, maybe a lower low today. Its the classical Elliot wave theory "A wave" down.
At some time in the relatively near future (guessing 2 to 7 days) there will almost inevitably be a dead cat bounce "B Wave" upwards, that last 2-5 days and the stock puts on 20-30 cents from the low that it achieved.
Its that low that I am interested in as it will enable me to have approximate reentry points when the "C wave" downwards happens.
I have different reentry point for different lows. For example
A low of 3.13 (currently occurring) provides reentry points at 2.95 , 2.85 and 2.76
A low of 3.06 provides reentry points at 2.87 , 2.75 and 2.66
While
A low of 2.95 provides reentry points at 2.73 , 2.60 and 2.49
So I am watching eagerly for bouncing dead cats.
cheers Lies
NAN Price at posting:
$3.13 Sentiment: Hold Disclosure: Held
(20min delay)
