Welcome and thank yo for taking a look at the new Technicoil discussion forum on Agoracom. I am pleased to be your host.
I fist started watching this company in mid 2006 with a view to following it to the bottom.
The company has strong fundamental corporate strength and solid management. Their corporate moves in that timew have kept me interested and watching. It has just been a matter of waiting untill their sector turns the corner - which I think with the now higher natural gas prices and Oil stuck way over $100, and the fallout of the Alberta roayalty mess in the rear view mirror - has now occured.
In the past weeks I have been watching the TEC chart closely...
this seems to be a case where a clear, unmistakable wave pattern unfolds before your eyes and commands attention.
I will be posting a chart in the photos section soon but in the mean time here is a general observation of the situation...
It seems to have carved out a perfect EW 5 wave impulse since its low in the 40 cent range with an extension in the 3rd wave and a high over 1.40. the wave form even includes a throw over wave 5 at one degree lower (and in wave 5 of each of the compenent waves 1, 3 and 5 of the larger trend). there are even Fib. ratios showing up among the waves.
From an EW perspective we can conclude that at the next larger degree the trend is now UP with wave 1 completed and wave 2 now under way.
after the wave 2 retracement from the first 5 wave impulse we will be into a wave 3 - which means profit opportunity.
The SP should now retrace at least a small amount (as it already has) and potentially a large amount - I have yet to calculate the targets. the bottom of wave 2 will offer the perfect buying opportunity before the next impulse into wave 3.
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