NewStream Energy Technologies Group Inc (NSGP)

[trader53]

Absolutely !!!!

I believe that a possible scenario setting up, is that the stock could see a "dip" this week, on an "intra-day" down to test .097c, and in the same day, stage a rally on a "short squeeze" chasing to cover, that will carry the stock above .42c at a minimum and as high as .74c, all in the same day.

CCTC has been in a consolidating phase since the day it peaked at .42c in February.

Consolidation phases can last weeks or months depending on many variables, one of which is how much volume there was on the initial impulse, and in CCTC's case it was over 120 Million shares in two days, Feb.17 and 18th.

In CCTC's case the consolidation phase has taken place in 8-1/2 weeks so far. I suspect that in view of the Imminent Buy I've posted about today, along with the stock being removed from the short list which should come shortly, we will see this consolidation end soon. Sometimes the phase can take 13 weeks, as was the case with AGEN.

These consolidation phases form themselves in an a,b,c, pattern which is explained under "Elliott Wave Theory".

CCTC has made an a,b,c, pattern already. The "a" was .42c down to .108c. The "b" was .108c up to .18c. And the "c" was .18c down to .10c , labeled on the following chart.

http://stockcharts.com/h-sc/ui?s=CCTC&p=D&yr=0&mn=6&dy=0&id=p97548523030

The move from .034c to .42c was IMO the first Leg up, WAVE #1.
We have now formed the WAVE #2 which is the correction of WAVE #1, in the a,b,c pattern.

http://www.optionsoutlet.com/trading_technicals/images/improv25.gif

If CCTC were to go down in the morning on Monday to .097c, the a,b,c, pattern would still be in place, just as AGEN formed over it's 13 week correction phase.

Make NO mistake, I firmly believe that CCTC can surge to above .42c on a up coming drop to .097c if that were to happen.
I also believe that the coming move will be driven by news of the stock being removed from the short list, or a PR on Revenue, or some other positive news event. Once again a drop to .097c will bring in new buyers because it will break the .10c support level.

http://stockcharts.com/h-sc/ui?s=CCTC&p=D&yr=0&mn=6&dy=0&id=p89863086104