Despite all these moves it was still possible to put a reasonable plausible EW count on this stock. We know that nobody on this side of the pond owns the stock so we have not followed up on this prognosis. However , today it is the news again, announcing a 10% layoff of it’s workforce and generally guiding down on the “white goods”sector. Here is where we are today;
Unfortunately Bigcharts does not allow me to get the exact same chart this time, so this one will have to do. The projection was for wave 3 to take the stock from $50 to $23 or so. In reality it dropped to $28 and then rebounded to $39. Now it is reasonable to expect a triangle or flat to form to provide alternation with wave 2. Today’s news may provide the “fundamental” backdrop for this kind of action.
Whirlpool is in a similar position, having lost about 50%. But here there is an outside possibility that a simple A-B-C (in blue) was completed. We doubt it but it is possible. More likely wave 3 is still in progress.