NewStream Energy Technologies Group Inc (NSGP)

[trader53]

On March 31st, I made this post.

Posted by: edurk Date: Wednesday, March 31, 2010 6:24:14 AM
In reply to: None Post # of 11840

One "caveat" to my scenario !!!

I could be wrong,about the stock moving up today and tomorrow.

It could make another attempt to go lower than .10c, going under
.096c intra-day on lite volume and then stage a huge rally much like yesterdays, and end higher with a close above .15c

I say this because, I consider all possible scenarios that exist, and know full well that the market doesn't recognize perfect TA outcomes.

The reason I ponder the possibility of a lower move to .096c, is that the pattern of a Head & Shoulders, has always been in the forefront of my mind over the last 3 months, with the Left Shoulder being .075c, the Head being .034c, and the Right Shoulder where we are now. The Right Shoulder can sometimes come down to be equ-distant with the Left Shoulder in this Classic Pattern...and .096c was a resistance point on the left side of the H&S, which makes it a support on the Right side, and often times supports are tested in the H&S Pattern.

http://stockcharts.com/school/doku.php?id=chart_school:chart_analysis:chart_patterns:head_and_shoulders_b

http://www.thehotpennystocks.com/Learn-To-Trade/reverse-head-and-shoulders-pattern.aspx