ECA, update

Then , June 2013 and July 2015, and now charts as usual;

eca feb 16 2013eca july 24 2015

and now, that is today;

eca feb 21 2016

Different chart suppliers use different ways of coping with stock splits and other wonderful things. As you can see the Bigcharts have a peak at around $53 or so, whereas the &M chart peaks closer to $96. There is no right or wrong way of doing this but, when Cenovus , CVE, was split out of at the end of 2009 obviously the ECA stock drops by the value of CVE plus or minus the beneficial immediate impact of the split, here that is roughly from $66 to $29. If this is not worked backwards and forwards into the chart it becomes quite meaningless. Some may not notice!

In any event (see the text in the blogs) the target was originally as low as $5. Then there was the possibility that the drop might stop at a little above $6. Today we will stop EWaving and switch to the Head and Shoulder method, as I understand it. That tells me we are at the exact low.

If the wedge is correct than we could get a violent reversal and, by the way, the 5th leg in this wedge does not have to, and most often does not, go all the way to the trend line.