NWC, North West Co.

NWC mar 24 2016 bNWC mar 24 2016 s

This  storied company is a retailer that does much of it’s business in the North West presumable. Chances that you would actually own the stock are relatively slim, but for the few that do this may be worth taking note of. Long-term we have , potentially, a clean 5 wave sequence up. Short-term we have a classic diagonal which is always a termination pattern, in this case a 5th wave of 5. On top of that it is very reliable or predictive. The stock should return to the base of this pattern at the very least. From here that is about $10 or roughly 30%. A much more likely target, wave 4 of previous degree, is at about $13 so we would definitely sell this stock.

Originally this was a competitor of the Hudson Bay Company. At some point they merged and in 1990 the name was revived  again as a separate company. The long-term chart above therefore covers most of the company’s life.