NYSE:NGVC NGVC formed a cup formation. Watching to see if this continues its pattern pulls back to form a handle, or breaks out further.
Very similar to UNFI except UNFI was 5 waves up and NGVC was 3 waves up. there is a running flat in the middle (b wave) which gave it that stretched appearance and was hard to count waves. I think we have a double top in the 15-16 range before we fall in a wave 2 likely a zigzag.
I like this count better because the 3rd wave shows momentum and steeper trendline.
Good earnings, this should continue to go up. Even tough I don't like the angle of ascent of wave 3/trendline, this was the best count I can come up with.
(NGVC)Looking like a good LONG with a possible breakout pattern coming alone.
We are SHORT'ing the FUCK out of NYSE: $NGVC | #NaturalGrocers! We are in the 5th wave of the smaller 5th wave! Unfortunately, I can't zoom in on the 1 minute chart, but this baby is going to COLLAPSE HARD! Higher highs in price + Lower highs in RSI = MASSIVE PROFITS!
Price has reached all time low and and current structure indicates we might have a reversal soon. MACD shows divergance and dying bearish momentum. Wait for breakout of weekly trendline to enter trade.
...bearish Shark playing out but PRZ way up at 41.62, perhaps a short shake out then go
ugly candle today, but holding the break out and gap up for now. Short termers likely take profits but....