Xechem International Inc. (fka XKEM)

[light_the_way2001]

The chart disagrees with the idea of remaining in 2 cent land. Not too mention the fundamental changes within the company. We have reversed the short/medium term down trend with chart showing confirmation. Look back at the last reaction low prior to the current subwave and you will see we have a higher bottom confirming trend change. The last mini-run saw ~.038 as a high from a low of .018. The current subwave has a new higher low of .02. a difference of roughly 21.8% (why is that number relative?)which is a Fib retrace number. So now we must take the difference of the last mini-run and the prior excursion high of .115 and add it to that peak and get ~.191 as a target. That is a little higher than my original calculation of .178, but there is always some inherant percentage of error when calculating exponential moves due to over and undershooting. That is the bigger picture from a chart standpoint. imo, What I cannot say is how long, the volume will tell us that. Just my opinion and target. After we hit that peak we get to recalculate the whole thing to get the next one based on the next higher low. I am not going to calculate subwave targets for flipperoos though. We can see the last time the 5sma crossed up the 13sma, we are again on the verge of that happening. PRs this week will bring the volume needed to complete that event, imo So keep your eyes on the volume.

http://stockcharts.com/h-sc/ui?s=XKEM&p=D&yr=0&mn=4&dy=0&id=p62977309511