Provectus Biopharmaceuticals Inc (PVCT)

[123tom]

@ novicetrader,,,,hard to say for sure....
it looks ok that the 1.00 zone held today,,,,but what doesn't look too good is the top zone from the recent days that hit resistance around 1.18 and failed 3 times.... so its a battle zone between the two .

The 1 dollar zone now IS the Fibonacci pullback zone so that makes it a bit stronger.

There is the 200 ma (weekly chart)right there currently as Support....but as soon as the price falls down below, and targets lets say 94 cents, and then bounces....now the 200 ma at 1 dollar becomes Resistance, and who knows what will happen there if that wave pattern plays out soon.

That's why I say this pullback happening now, as a test of the 1 dollar support....is crunch time for PVCT and IF it falls below 1 dollar Don't be surprised to see Adam F come a Tweetin....and then we might get our next bargain plunge to buy at 82 cents all over again.

OR....this 1 dollar zone could hold. great news could come out soon, a good seeking alpha article, a newsletter pump, anything positive, the time for that is now.

or else we might see the monster AF come slithering into the open doorway.

Both the daily chart and weekly show that PVCT is hanging in a middle zone, the RSI and MFI show it, the daily shows the small rally to the 1.18 area was a little bit topping zone and now comes back to a middle zone. a fair pullback here at 1 dollar but not oversold, and some kind of tricky game right here could send it below 1 dollar.

Keep the AF tweeter alert ready at Defcon 3

http://stockcharts.com/c-sc/sc?s=PVCT&p=D&yr=0&mn=3&dy=0&i=t25169293465&r=1411100865669


http://stockcharts.com/c-sc/sc?s=PVCT&p=W&yr=1&mn=3&dy=0&i=p24334884709&r=1411101185554