RY , Royal

ry sept 23 2011

In the same vein as the previous blog, the Royal may actually be a buy for a trade! It seems to have a contracting diagonal. Should be good for about $8 plus a dividend of almost 5%. It is normal for a single wave to extend within a 5 wave sequence. If the top was in April (it failed marginally) then we have a nice 5 wave sequence with the 5th wave extended . $52 would be the 4th of previous degree and also about 50% retracement.

For the record, $44 has been our initial target for some time now.