Truth is NTEK chart is forming
Post# of 96879
"reverse head n shoulders" pattern.
In fact this is the first time in the history of the NTEK chart
that this pattern has formed. This one so far
is a real beauty too in the bullish signals is is sending.
The LEFT SHOULDER was formed by the April low.
The HEAD was formed by the June Low.
The NECKLINE is drawn from the May high about .088
over to the July white candle high of about .085.
We also have that very speculative bullish run last wednesday
that blasted thru the neckline up to .103 only to fall back.
Now here's what's critical to see.
Right now NTEK is forming the RIGHT SHOULDER.
Notice the low of the RIGHT SHOULDER .06 is still significantly
higher than the low of the LEFT SHOULDER .05.
Thats a bullish signal !
Notice the VOLUME in the UP move for the HEAD was much
stronger and quicker ( only 5 days ) than the volume and time
it took for the LEFT SHOULDER ( 8 days )
Thats an extremely bullish signal !
Notice the RIGHT SHOULDER has already had 2 UP days
since June 20, but the LEFT SHOULDER didn't have any
UP days from April 7 to April 23. Another bullish signal.
The all important key for this pattern is to get a WHITE CANDLE
close above that June 20 WHITE CANDLE.....Depending on how
quickly NTEK achieves that day will reveal much about
how high NTEK will go in the short run in the following days.