CV Sciences Inc (CVSI)

[gimbaless]

Your deadly accurate TA targets are rules applied for a bullish inverse head & shoulders pattern with a neckline at $9.20. Problem is we do not yet see the completed right shoulder high up to the neckline yet, thus the rules you used are not valid yet to call for a target high based on an inverse head and shoulders pattern that we do not yet see.

On the other hand, we can see a Elliott 5 Wave up pattern to a high of 9.2 that we can call Primary Wave 1 because we just had a Primary Wave 2 correction low enough to overlap Primary Wave 1's Wave 3 high.

Based on what I do se in the CVSI chart, I have provided targets in previous posts: Primary Wave 3 high @$35-37 and Primary 5 high at around $55-$57. But I also never showed my chart pattern until this post.

I use Elliott Wave Channel Supports and "extended" Fibonacci ratios. I always use a log scale for my y-axis pps, and anybody not using the log scale is showing a misleading chart. The nonlinear log scale allows the human eye/brain to easily see linear relationship between small number ratios and large number ratios.

So here is my chart of what I think the main wave trading will be like going forward. I really think we will shoot up strong as Primary Wave 3 begins with an extended subwave 1 and take out the $9.20 Primary Wave 1 high with this extended subwave 1. The sharp Primary Wave 2 correction portends this volatility in starting Primary Wave 3:

https://www.sugarsync.com/pf/D6901894_08217417_173791