...NG will be at a double top on a P&F chart
if it hits 4 dollars this week. If it hits 4.25 near
term it would be a breakout. It has to do neither
at this time and could go back down an
back and fill again as it has in the past.
The possibilities make this an interesting time
for NG from a technical point of view. Most
investors do not have the patience for a stock
like NG, a slow mover. But with 4400 shares
accumulated, I will be patient. techtrader
If you go to asx stock exchange look at Novogen halted, it will explain. It is a private placement
with rights and shares issued at .30 Austrailian.
Backing and filling is occurring, and it will be interesting after
todays move to see if continuation can happen tomorrow.
If it does a move back to the 4.00 level is doable.
That why I like technical analysis. It gives an edge to buying
and selling stocks along with fundamental news about a
stock. This move in NVGN appears to be just getting started.
The price will not go straight up but should continue to zig-zag
higher until we get to the 13-14 area as indicated by another
technical indicator, the Point and Figure chart for NVGN.
I don't think this move is dead. We had a "golden cross" a few days age.
Where the 50 day MA crossed the 200 day MA. It may take a few days
to sort out but a move to the up side may be in store for EPRS. techtrader
22 million divided into 60,000,000 offered is 2.722727272 per share. Maybe they will offer more this time.