NewStream Energy Technologies Group Inc (NSGP)

[trader53]

One last earlier Post....

Posted by: edurk Date: Thursday, April 15, 2010 3:45:45 AM
In reply to: None Post # of 12422

CCTC can go to .099c and still go above .42c

TA (Technical Analysis) is not perfect.

That's why I like to compare the price patterns of stocks, to see what happens to stocks technically, that causes big price moves.

One thing is certain.
Whe support levels get broken, the lower level will attract new buyers, as well as scare current holders.

A lot of times you will find that big moves up happen when a stock has fallen sharply below a key level of support. Sometimes however, all that is needed is a drop of only a penny below support to bring in the buyers and sen the stock up dramatically.

I bring your attention to both of these charts to do your own comparison. Both are 6 month charts. Both stocks had big moves up and then consolidated for more than 8 weeks. You will notice that one of the stocks made 2 bottoms (0.108c and 0.10c), the other stock made 3 bottoms (0.74c, 0.71c and 0.70c)

Stocks consolidate gains in the form of a,b,c, patterns under Elliott Wave Theory, but sometimes it can be viewed in the form of a 1-2-3-4-5 sequence pattern.

Currently, CCTC has made 2 bottoms, but may make a 3rd bottom to .09c, and still find strong enough support there , from which it can stage a strong rally.

http://stockcharts.com/h-sc/ui?s=AGEN&p=D&yr=0&mn=6&dy=0&id=p60955491466

http://stockcharts.com/h-sc/ui?s=CCTC&p=D&yr=0&mn=6&dy=0&id=p50667139418