HCG, update

The usual then, less than two weeks ago, and now charts;

hcg feb 14 2016HCG feb 27 2016

The high on this stock was $53.78 and the recent low $22.99, that is a drop of $30.79 which is 57.25% of its value at the peak lost in little more than a year. As we do not know, and cannot find, the starting value of this stock we cannot calculate what percentage this is of the increase in the value but we assume that it would be very close to the Fibo. 61.8%.

If you played this stock you are up about 40/45%. We suggest you take that now or after a dollar or two and step aside. The reason is that we may be further along in the wave count than we originally thought. Closing the gap is less likely but the stock could get to $35 or so but we would not wait for that. Both the and MACD could be ready to rollover.

Long term the target stays the same at around $7 or so. Note that wave 1 is $53.78-$25.46=$28.02. Reverse engineering that, assuming C will be equal to A, you get $7+$28.02=$35.02 for the high of this intermediate correction (an irregular flat).

Keep in mind that the count shown is just the preferred one, there are one or two other possibilities, as almost always.