NewStream Energy Technologies Group Inc (NSGP)

[trader53]

IMO, CCTC will fall to .097c this week,

or, next!

CCTC is within the confines of a "Pennant Formation"

The "Staff" is .03c to .042c.
It was formed in 3-waves under Elliott Wave Theory.

The "Pennant" is still in the process of forming.
Basically, the pennant is a consolidation of the "staff".

The first wave down was .42c to .108c.
The second wave down was .18c to .10c.
The third wave down is still in the process....from .185c and moving down to where I believe will be .097c.

The .097c will IMO, serve to break support at .10c and bring in new buying, set-up a Bullish Divergence, and shake-out weak holders.

The "Pennant Formation" is a continuation pattern which is BULLISH. It is also the consolidation pattern, or correcting wave of the first wave up, .034c to .42c. The pennant is a triangle pattern and currently the price is trading within this triangle toward the triangle APEX. This Pennant Formation can be seen in many stocks that begin BULLISH PHASES, which is where CCTC is currently.

The following are two examples of Pennant Formations for your review to compare. Both formed a "Staff" and were followed by a
8-11 week Pennant Formation, or continuation pattern before breaking-out to form the next wave up.

http://stockcharts.com/h-sc/ui?s=CCTC&p=D&yr=0&mn=6&dy=0&id=p74441193633

http://stockcharts.com/h-sc/ui?s=AGEN&p=D&yr=0&mn=6&dy=0&id=p04724432987

http://stockcharts.com/h-sc/ui?s=AEZS&p=D&yr=0&mn=6&dy=0&id=p11752642751