Then – Feb. 21, 2014 – and now charts.
The target at the time was $35, or more precisely the low point of the triangle. It did exactly that losing 50% of it’s value and about 62% of the last leg up. It is now probable in a wave B of an A-B-C correction. That wave B is not quite complete so it might go a little higher. Then wave C should start.
The gun industry is in trouble. The US is the ONLY civilized (?) country where you can buy these things without too many questions, sometimes no questions at all. The right to bear arms is in the constitution which was ratified in 1788. 227 years ago circumstances were slightly different than they are now but that right is defended tooth and nail by all sorts of people. However the laws are chipping away at it, most recently Obama came up with a plan to disarm the elderly on grounds that they are over 65, receive Social Security and fall in the category of, people who have "marked subnormal intelligence, or mental illness, incompetency, condition, or disease." Apparently there are some 4.5 million of these and you sure would not want some senile opa shooting squirrels from the porch next door with an AR-15. Not good for the neighbourhood , the elderly, or this industry.