The usual then – Feb. 28, 2014 – and now charts;
Our target was at about $15, a little too high but then perfection is elusive. Friday came with a 24% single day gain. This rebound is not over yet. Look for and expect at least $20, and if the triangle is correct , perhaps even $30 which would then constitute a double. By the way, sometimes on large moves as we have here, from $50 to $14, semi-log charts often work better than arithmetic charts.
The stock is now in the anticipated target area and should be a buy between $16 and $15
The usual the – Sept. 26 , 2013 – and now charts;
At a time when natural gas was going at fire sale prices and when companies like Cat and Cummings were doing quite well, it was not at all clear why this stock should not participate to the upside as well. This is exactly where EW can be a great contributor to your investment success. It simple does not ask these questions and moves directly to what the market is telling you, albeit in rather cryptic terms. Our target was roughly $15 and we did remark that it is sometimes impossible to foretell how short d and e waves can be. In this case the e is rather puny (in fact we would keep an open mind to discarding the triangle all together and opting for a slightly more compressed count, see below and previous posts).
The point now is that we are approaching the point in time where the apex is directly above us ( late March?) and we will have some form of equality between the two down legs at around $15 or a little above that. Presently less than 1% of trucks and other heavy vehicles run on (compressed) natural gas. Savings for a standard heavy truck can run into the tens of thousands of dollars. In Europe you can buy these dual-fuel beasts right off the shelve, the biggest manufactures being DAF in Eindhoven , Holland. What are we waiting for??
We got a few things right but did not execute terrible well. Now it looks like this stock has been triangulating for quite some time. If correct it is a buy briefly for wave d and then a sell for the larger degree wave C down. You have to be nimble to play the d wave as it can stop well under the top line or a little above it! The RSI and MACD seem to be in tune with this scenario.