ABX update

abx may 3 2016

Please see our previous blog of two to three weeks ago. We recommended selling at about $22. which I am sure nobody has done. It is always good to leave a bit on the tble for the next guy/gal.

We have done 5 waves up, reached the top of the diagonal and both the RSI and MACD are  deteriorating rapidly. Furthermore you have almost tripled your money. A solid pull back should lie ahead, perhaps about $8 or half of the gain. It should unfold in a-b-c after which the C leg could add an equal amount again and take the stock to about $32. We will see.