Once again the usual then, 24th March 2016, and now charts;

From the peak this stock had lost about 21% and is presently rebounding in, what we think is wave 4 of 3. Whatever, the target for this round is at about $20 so we are not done yet by any means! Actually the drop so far has occurred at a much slower pace than one might have expected given the wedge-like structure over the two years or so going into this drop.       Perhaps Canadians are encouraged by our CB Governor Poloz’s latest comments about another 18 months of the same, that is wait and see what happens. We thought that was the policy all along.

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.