Hi guys, This is a long post...so if you are running short of...

Hi guys,

This is a long post...so if you are running short of time, skip please:-)

There's no denying that for CVI holders--- those who adopt a buy and hold strategy-- would probably have bought on the rather "good" prospects of CVI based on conceptual or impending projects that talks about it as a multibagger. However, we have seen the price of CVI bought low, along with the tide that affects most other stocks on the ASX.

Often we feel the weariness of it all- especially if we do not trade the stock at every swing or every turn, because the share price would seem to go nowhere except to continue in a slow process of attrition in price.

Whenever friends ask me this question, " This stock is a dead stock, it is not going to go anywhere.Is there any chance for this stock to be a multibagger?", I would do one thing :- I will check it by wave counts.

By adopting a period of as long as I can of past historical data of the stock, I would subject it to my elliot wave software to compute thousands of iterations on every seemingly known elliot wave to generate a raw wave count chart that would encompass the elliot wave projection of the intermediate, primary, main cycle and super cycle - waves that correspond to the intermediate time frame, the primary time frame, the main cycle time frame ( longer still ) and the super cycle time frame ( very, very long in layman terms!).

And then look at the results.

Is there any impulse wave count among them that will propel the price to stratosphere- into a multibagger, and what is the time frame involved?

If the results show nothing encouraging, I would readily consider the dog of the stock a dog and nothing more; enough of this stock and have nothing to do with it because of its low prospects.

But if the results does show at least a wave count that provides a good price target - several times its current price or value - then I feel comforted that there is technical evidence from wave counts that the stock at least have technical capacity to become a multi bagger...and that not all hope is lost. What remains is the personal trading psyche and risk tolerance of the trader to be able to adopt a trading plan and strategy to exploit the possibilities of the stock in its various price movements while the dog of a stock is on its way to achieve its greatness and on its move to glory, even though a larger cycle will take a larger amount of time, and where patience is a must and a virtue.

Having said that, has CVI turned permanently into a dog? Has it lost all signs and hope of ever becoming a multibagger.

Attached is an updated elliot wave chart, and I have boxed its price projections or targets. We can see some pretty discouraging price targets in the low range of 0.05 to 0.10 cents ! But wait...for the main cycle, we can see a first target of $1.30 and then $11.89 !

And so, I'm not about to give up all hope that CVI is a dead dog of a stock and nothing more. Rather, the wave counts show that it is probably better to trade the stock and ride its various gyrations and wide swings even as it continues to fall and rise, and when and if it does transit into the main cycle over the long period of time, to enjoy the benefit of the super price jump when it becomes the multibagger.

There might still be gold at the end of the CVI rainbow ( and oil and gas , diamonds, copper..etc besides!).