Ready for a Wave 5 explosion! Sona Nanotech (SONA, CSE) Sona Nanotech (SONA, CSE) is beginning to emerge out of deeply oversold conditions that formed last week when the stock lost one-third of its value from Monday to Tuesday. A bullish Morning Star reversal pattern formed Wednesday after 6 consecutive losing sessions, and the stock firmed up modestly to close the week at $1.28. Over the past 2+ months SONA has experienced 3 major corrections (52% over 9 sessions in early March, 41% over 3 sessions in early April and 45% over 6 sessions culminating last Wednesday). Notably, this latest strong pullback ended near the still-rising 60-day moving average (SMA) and the bottom of the channel as shown in Johns updated 3.5-month daily chart. With this cleansing, SONA could now be ready to launch into a much-anticipated Wave 5 explosion to new highs in conjunction with its Rapid Response Lateral Flow validation test with a major U.S. laboratory. Validation and approval in the U.S., vs. the same in Canada, is going to result in a much higher profile for the company.