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NQ Mobile Inc. Message Board

  • robinspec robinspec Sep 27, 2013 1:51 PM Flag

    Chart Thoughts

    I know there's a lot of bullishness surrounding this stock and rightly so. I wanted to give my thoughts as to where we're at in the longer term. The measure of how far a trend has developed that I rely on most is Elliott Wave Analysis. For those who aren't familiar with EW it's basic principle states prices move in a 5 wave pattern which reflect buying and selling emotions as they occur throughout a trend. The most important wave in any trend is the 3 wave which is often the largest of the 5 waves. In a bullish trend such as NQ's the 3 wave will show relentless buying pressure such as what NQ experienced during the July - August time frame. Now it's been my experience that the half way point of a 3 wave will stand out as a period of volatility such as the correction in late August. So based on where I think we're at in this trend we are about 1/3rd the way into the second half of a large 3 wave. This current correction should be a fast spike lower before relentless buying pressure takes over again. By the way the last half of a 3 wave can be spectacular. So it's my best guess this correction is a major buying opportunity based soley on chart analysis. We all know this is likely only the beginning for this stock. Good luck.

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