Medizone Intl. (fka MZEIQ)

[123tom]

@ gofo.... the MZEI chart....

http://stockcharts.com/c-sc/sc?s=MZEI&p=W&yr=2&mn=3&dy=0&i=p17157151343&r=1407961092121


what I'm seeing here is the pullback ongoing, heading toward the support zone of 9-11 cents area. (maybe nibbling at 12)

Yes, the 50 ma is acting like a magnet at 13, but the RSI and Stoch are not at an oversold bottom, so if I wanted to be cautious I might wait to see one more dip in this down wave structure, to test 11-10 cent area, if I was to buy ,or buy more.

Like the miners charts, this biotech chart has that Range pattern look to it. The top zone shows a overblown momentum zone around 28-30, but the more solid top zone, is really around 22-24..... and so the middle zone is here around 13.

A bullish trend change wave structure would hold around 13 here and rally forward. a Range pattern would likely revisit 10-8 cent area,at least.
see on the chart, the Ichimoku cloud pink and green. the pink area covers that 8-10/11/12 cent pullback zone. Thats what I would anticipate as a target. The green cloud portion overhead from 17-20 is a bounce /resistance zone, and the 20ma is there to offer Resistance in the current cycle. Price now sits in the middle of these zones, like a cornered cat.
hissing, and waiting.
I personally dont trust a bounce here, back into that 19 zone, I would anticipate a whipsaw back down to begin the next downwave to the 10 cent target zone. either sliding down soon to test 12/11/10 or bouncing to the 19 area and then Down to test 12/11/and 10 in the coming weeks.

Its all educated guess work looking at the technical chart. but if it is technical trading price action, those are the targets at this time. here at 13/14, its a middle zone. I try to wait for bottoms to buy and tops to sell. I would be looking to sell some around 26-30 as a trader. and buying from 5-10 area