ELUXY, Electrolux update

eluxy dec 29 2012

We though the C wave had started in earnest with the last drop to below $30, but it proved to be just part of a b wave ( see previous blog). In terms of consumer electronics this company must be among the best performers. At around $60 it’s fortunes should change as the C leg takes it down to somewhere in the vicinity of $10. As noted before, for the duration of this chart the stock has lost or gained more than 50% ten times now, a double top is maybe all that is needed to start the process for the 11th time.