NanoTech Entertainment Inc (NTEK)

[livinginstyle]

Geez, you must not have been here earlier this week when we had a 30% up day followed by >30% retrace.

I predicted a pullback to .06 cents after that 31% up day. The chart at that time just needed a breather and we got it. Today though could be different. I commented this morning how the chart was about reset and we had probably seen the bottom and it should start moving up soon. Contrary to some people's expectations, one can never predict a stocks movement with 100% accuracy, but after reading charts for many years, I have become dependent on them.

An 18% up day is not overwhelming or chart damaging after a pullback from .08 cents to high .04 cents. It's actually with in normal parameters for a high flyer like NTEK. Volume today was higher than the last 8 of 9 trading days. That said, that doesn't mean there won't be another shake like an opening gap down or a stop remover. But, if that happens, it should recover fairly quickly.

Today's bullish engulfing candle is a bottom and turn signal on the daily and a white spinning top on the weekly after two weekly red candles is also an indicator of a bottom and turn. Monday and next week should be interesting. I suspect this will retest .08 cents next week after a little resistance around .07 cents.

I own both this and HHSE. HHSE's chart is also looking pretty nice. I don't know what Monday brings, but I think HHSE tests its recent .0332 high by weeks end.

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