Back in April (see blog) we recommended exiting this stock at around $24, but we did point out the possibility of a triangle which would imply a further rise.Here are the charts then and now.
On the left is the old chart, the green arrow shows what to expect if that had been a triangle. Fortunately I had my doubts and did not embrace that scenario (the entire wave in front appeared complete, so a 4th wave triangle did not fit well) .On the right is what actually happened. Needless to say, the stock did not go up.
Triangles are supposed to be 3-3-3-3-3 structure (sometimes with even more legs) Each individual leg should be a 3-wave structure itself. More often than not it is impossible to discern .