I was looking through my scans for some tradeable patterns and...

I was looking through my scans for some tradeable patterns and saw what looks like a Wyckoff ‘spring’ in NGI’s recent price moves. Theory says it should start making higher high and higher lows after the spring. It’s too early to get a confident target if the pattern proves itself but I’ve got a guesstimate of $5.75 (about a 90% gain on my initial proposed buy in price).Price has closed for 2 weeks above a weekly trendline (a buy signal) – although placement of that line could be moved a tad either way and still be valid. Price is making higher highs and higher lows (a buy signal).If price breaks above $2.95 then the stock will be in a technical uptrend (ie higher over 12 weeks) – another positive.On the negative side, I don’t consider the stock has fallen as far as I would have expected – ie my Wave C is too short. While not impossible another option might be that the point marked “C” is actually A and we’re in for a rise into Wave B.A further negative is that last weeks candle is a reversal candle and if price falls back next week without making a higher high, the pattern will have failed (for now). Accordingly, I’ve got a conditional buy at $2.96 – and if successful my stop loss would be $2.56The red dashed lines are potential natural resistance levels.Not one to put the house on but worth a little punt added to as milestones are met (if they're met!).
Jamieevie - input invited.