NewStream Energy Technologies Group Inc (NSGP)

[trader53]

Where CCTC is in the Cycle, is Wave #2

http://www.babypips.com/images/elliott-wave/5%20wave%20color.gif

CCTC is forming a bottom in Wave #2,
and once it is completed, ( my target is .097c),
Wave #3 will begin.

Wave #1 was .034c up to .42c
Wave #2 was .42c down to .10c, up to .185c, and working its way down to what I believe will be .097c, (the bottom of Wave #2.

Wave #3 should begin with .097c and go up a minimum of .74c.

Wave 1 ( .034c up to .42c )
The stock makes its initial move upwards. This is usually caused by a relatively small number of people that all of the sudden (for a variety of reasons real or imagined) feel that the price of the stock is cheap so it’s a perfect time to buy. This causes the price to rise.

Wave 2 ( .42c down to .097c )
At this point enough people who were in the original wave consider the stock overvalued and take profits. This causes the stock to go down. However, the stock will not make it to its previous lows before the stock is considered a bargain again.

Wave 3 ( .097c up to .74c minimum to possible $1.20 to $2.42 )
This is usually the longest and strongest wave. The stock has caught the attention of the mass public. More people find out about the stock and want to buy it. This causes the stock’s price to go higher and higher. This wave usually exceeds the high created at the end of wave 1.

http://stockcharts.com/h-sc/ui?s=CCTC&p=D&yr=0&mn=6&dy=0&id=p25543880493

http://www.babypips.com/school/the_53_wave_patterns.html