This is Mnt. Everest plus $20. You must have a near religious conviction in the China story not to feel a bit uncomfortable with this stock, which is perhaps why they never show longer term charts on BNN or CNBC. This is a standard Yahoo chart but I have added one straight line through the whole thing which, very roughly, represents where the pendulum will swing to when we regress to the mean, and, invariable overshoot to the other side – first $30 and then maybe $20? Looking at the short-term charts, this is not that farfetched ;
My guess is that we are in a 4th wave, that may or may not develop as a triangle, to be followed by a 5th down. In commodities, as is clearly apparent from the big chart above, 5th waves often exceed all others either to the upside or downside. Alternatively we might just be in wave 4 of 3 but then we should drop almost immediately. However you slice it, it should continue down.