NanoTech Entertainment Inc (NTEK)

[livinginstyle]

Every time I have posted chart opinions on this and HHSE I have been right. That said, I'm due for a slap-down so here goes.

I think what happened today was a shake before the breakout. I'm not saying NTEK will breakout tomorrow, but I think we are close. Reason I am saying this is because the stock has been bouncing off the recent short-term upper trend line that has formed using the high of .1395 as the upper most point. The lower trend line is at about .055 but the stock has formed support above that line and refuses to break below support. The stock formed a bullish flag pattern with a low of just below 5 cents which it has rejected and now refuses to go below about .06 cents.

Looking at the chart indicators, the MACD is still moving down but is close to bottoming. MACD is a lagging indicator and when a stock like this is consolidating the MACD often times is still heading down when the breakout occurs. The CCI is almost exactly where it was before the stock ran from .00's to .1395. Stochastics have bottomed and turned up. Most other indicators are either neutral or becoming oversold. I personally see volume picking up and a breakout happening before much longer.