BAX, Baxter

bax apr 2013

The best count here is that of a large A-B-C.  The B-wave is pretty well complete and should start any moment now. For starters expect a drop of about 62% and close to the level of a 4th wave of previous degree, roughly at $35 or a little lower. An unlikely alternative would be that the stock had a large 4th wave triangle and is now in a 5th wave. In that scenario the stock could possible climb another $5 or so, not worth the risk in our opinion. A sell.