NanoViricides Inc. (NNVC)

[Trendliner]

THANK YOU DRKAZMD65

First I want to congratulate you for having the sophistication to understand my post. Clearly you have a great deal of investment experience.

Though we may not agree on the fundamentals of NNVC I realize my analysis may be entirely off base. I suppose that is why I revert to the analysis of the market behavior.

If support holds, then yes, the stock is well positioned for additional buying. Buying on support during an up trend or shorting against resistance during an down-trend is a sound technical approach. The 64 dollar question is what is the underlying trend. My assessment is the decline that began in March at 3.40 remains in place. The movement between May and now has been a pause in the down trend. Second phase of decline would be signaled by a violation of support (daily low hits 1.40 or daily close hits 1.47).

The key feature since May that suggest the action has been a pause in the decline rather than a base that would lead to new uptrend is the pattern of the price peaks since May ( end of May, mid-July, end of Sept). Thus given current information I expect a downside penetration of support.

But a good technician does not get married to a point of view. In fact no intelligent person gets stuck with any point of view if the evidence changes. What would be the most surprising and therefore even more potent signal to the upside would be a brief under cutting of support followed by a powerful reversal to the upside. That will require a close beyond 1.75. If that were to occur on an expansion of volume the bulls will be very happy. 3.40 is clearly in view in that case.

TA is not a crystal ball...it's just a wind-sock that puts the odds slightly in your favor, if you stick close to the evidence.

I agree if milestones are actually achieved, and that is a big IF, 5.00 is not out of the question.

Trendliner