Back on the 30th of March I suggested the stock had completed a 5th of a 5th or, even if it had not, was about to do so. The chart then is under the archives but here it is again.
At the time I suggested a possible target of $27 or so, 4th wave , B wave, percentage retracement, 200-day moving average etc. etc. I had completely forgotten about this one but fortunately it did do close to 30% (18+ to 21). Next question is where is it really going. Here is todayâ€™s chart.
Nothing has changed $21 is the first point. $27 is the next wave 4 of prev. degree. $25 is where the 200-day moving average resides. $28 is where the B wave top resides; it also happens to be a pretty exact 50% retracement. So all told there is a whole cluster of reasonable targets between $21 and $28, most at or above $24. The sharp action of the last day or so suggests we are in some third wave, implying that we still need a 4th (when you start worrying if you should not have exited the trade) and then a 5th to finish (perhaps only) the 3d wave up. So, all ge-OH aside, go for $24. What are the fundamentals on this ? I am not even sure what they actually do. (oil is maybe going to $65 before it goes to a new low).