We are at day 12 of the left side of the Right Shoulder of
We are at day 12 of the left side of the Right Shoulder of the
'Reverse Head n Shoulders' classic bullish pattern from the
.088 July high.
Look back you can see the left side of the Left Shoulder in
April ENDED at day 12.
What this means is if FRIDAY is a WHITE CANDLE UP DAY
there is very high odds NTEK will have begun its New Uptrend at
that point to finish the Reverse Head n Shoulder pattern in the next few
days moving back up to .088..
Once NTEK breaks above .088 on strong volume
we can expect to be trading back near ALL TIME HIGHS well
before the end of this year. Right now I'm targeting End of Sept to
First week of Oct to be back near all time highs. NTEK has significant
Catalyst events that will be coming known around that time.
The other scenario is if FRIDAY is a down day then it means we
likely have 1 to 2 more weeks of consolidation in the 7's since it took
7 weeks from the April low to the June low and we won't be at 7 weeks
from the June low until first week of August. I put the odds low for this
slower breeakout scenario mainly because there's a lot of rumors
swirling that NTEK has a LOT of news in the pipeline to release in
the coming days. NTEK should be flush with cash now from selling
almost all their backlog of NP-1's with bigger plans ahead:-)
Nanotech Entertainment Inc. (NTEK) Stock Research Links
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