NAV, Navistar

NAV 2012nav b june 2012

Back in August of last year it looked like NAV was going to do a triangle (it was definitely a 4th wave), instead it did a zig-zag but the implications are the same, that is the stock will go down in a 5th wave and that is what it is doing. The whole structure is looking to become a 3/4 year “”, that is a sideways move that fits in a parallelogram, more or less, as the C leg is known to dive a little deeper. In detail;

nav s june 2012

An ideal target would be around $10. We are presently in wave 4 of 5 of C.