NanoViricides Inc. (NNVC)

[Trendliner]

SHORT-TERM UPTREND IS DONE

Today's close under the the price level I specified (1.18) indicates the uptrend has failed.


The bull's last hope is support between 1.05 and 1.00. If and when that fails the long-term downside target for year 2017 is 40-65 cents as the likely range. Worst case 25 cents.

1.00 has been a very strong support level since the fall of 2007. The longer a support level has been in existence and the more times it has been tested successfully the greater its importance.

If and when the 1.00 level fails it is a bearish signal of the utmost technical significance and would suggest that the market has concluded that it is just a matter of time before corporate failure.

Trendliner