SNC update

snc mar 5 2015 bsnc mar 5 2015

See also our previous blog on SNC. In the big picture we are now wondering if a triangle wave 4 is in the making. This would be very bullish so we are only wondering but nevertheless, given another small triangle that the stock just sort of dropped out, it seems quite possible that this stock would, before doing anything else, rebound to that $45 level. As far as we can tell this thrust has the right size and structure so it may be done. To play it safe -  not always the smartest thing to do – you may want to watch it drop closer to $32.80.

Some people believe this stock may be overdone to the downside. There is this boyish looking Maxim , head of research at Dundee, who is very intelligent and articulate and does suggest it is overdone. I believe his target is around $50 or so.