STN, Stantec

stn jan 24 2016

You do have to look at a more detailed chart (not shown) to determine what happened the past two years, a-b-c irregular wave 4 followed by a very clear wedge wave 5. This stock topped last year. If you do not look at the detail you may misjudge the situation in thinking that you just finished a wave four and still have 5 to go up. That is not the case. Often wave 1 is less pronounced or slips out of sight but it is definitely there in this case.

Expect a drop to the wave 4 level of previous degree and or 61% decline, more or less as drawn.