IFC, Intact Financial Corp

ifc 2 IFC

Sounds a bit like a dog, but dogs are good. Nevertheless this stock is sending mixed signals which may not be that good. On the left there is a clear 5-wave down pattern which should, ultimately, be followed by another one. In this case there is a clear “wedge” and the stock has traded right back to that level plus a little (very common). In the short term chart there is also a 5-wave sequence from the bottom, or at least there appears to be, again that should ultimately lead to another 5 waves up. ( This conflict can be reconciled by assuming that the up-leg from the low is a of an a-b-c that is itself going to be a B in a much larger A-B-C ). The best thing to do here is follow the old rule, “when in doubt, get out”.