NanoViricides Inc. (NNVC)

[Trendliner]

ADJUSTMENT TO THE DESCENDING TREND CHANNEL

I took another look at the descending trend channel on NNVC and made an adjustment to give a better fit to the down trend that has been in effect since the March 22nd high at 3.44. The stock has not broken out of the revised channel. Today's peak at 1.70 touched it. A close > 1.75 would be a breakout.

By the end of May the lower channel bound will be at 1.18. This should provide some support. The next meaningful support does not arise until the 90 cent to 1.00 area. No need to predict now if that will hold. If a stock is going to get support at a suspected price, various technical patterns such as a bullish divergence will give an indication.

At the moment the bulls are in trouble and it's going to get worse.

Hope some find this useful.

trendliner