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.
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.
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.
