Replies to post #35915 on Medizone Intl. (fka MZEIQ)

[GreenOwner]

This is interesting, if you look at the chart beginning in April 2013 we actually have a new 4 count wave formation.
I question this concept, however, because the Wave 1, which came from the Bed Bug article, has nothing to do with todays events.
But just looking at it from a technical view, we would have just completed Wave 4 and about to launch into Wave 5.
This would be Bullish if accurate.
That also implies that this run would not be as long and powerful as what I had hoped for a few weeks ago.
But we will take what we can get.
Is this stock going to find even lower support below .13?
I don't know.
You can't give up on the company at this particular time until you know exactly what is happening.
Sure wish I knew!

[goforthebet]

good morning Tom,

thanks a lot for your time and always very professional chart analysis here and on our mining stocks. have a good day.

[iceman329]

Beautiful chart. Is there anyway you could screenshot your settings for it? I usually use charts just to indicate the best time to buy but I want to use charting more and more now.

[GreenOwner]

How do you take a chart and post it on IHUB?
Do you have to be more than a free subscriber?

[123tom]

(updated)...another look at MZEI

Elke , if you review my post from a month ago and see if the forecast played out , start from there....and heres the current MZEI chart.


http://stockcharts.com/c-sc/sc?s=MZEI&p=D&yr=0&mn=3&dy=10&i=p95055876972&r=1410975938981


From the previous forecast, The pullback wave I expected one more drop to test the 10 cent area , happened 3 days after my forecast. Basically that same forecast remains ongoing....with range zone top targets around 24-30 area...Right now, you see resistance at the 200 ma and support at the 20 ma around 12 cents. The elliott subwaves, in the current rally, shows a 5 wave pattern completing at this 200 ma zone, so I would be anticipating a pullback now or soon to retest the 20 ma at 12 cent area, and depending on the fundamental picture for this company, and any news potential, or any reason for traders and investors to feel confident about this stock.... then it should lend itself to the support zone at 12 cent area. or at least not fall below the 10 cent zone. It looks like price action took a month to demonstrate a base and bounce off the 10 cent bottom. ...and its first rally wave has hit the 200 ma at 15 cents..... now I expect the pullback. and If it holds ok, then it will retest the 200 ma and try to break through it. As a bullish wave pattern, IF this is what will play out, the 200 ma should get broken thru and the top zone target 24cent area should be the basic target to watch for, As a technical trade. If youre a fundamental buy and holder, then I suppose you wouldnt sell.


Heres the weekly chart and it shows a more complete picture.... it also shows resistance above 15 cents, which could become tricky...if you see price break above the 200 daily ma at 15....it could be a short lived rally that bogs down at 18-20 cent resistance.....AND the wave pattern could generate another downwave that retests 10 cents and 8 cents before its finished....so this time period and the chart pattern playing out can be tricky to watch , and it could zig zg around between 12 and 18 cents, trying to battle between bullish and bearish momentum. The 10 cent area looks like a decent pullback zone....but the elliott wave pattern looks like it could falter around 18-20 cents and turn back down to retest 10 cents again and even 8 cent area. and from there, when that Elliott ABC wave pattern , pullback finishes....you could see the next strong rally that retargets the 26-30 area.

http://stockcharts.com/c-sc/sc?s=MZEI&p=W&yr=2&mn=3&dy=10&i=t28461389977&r=1410976624411