Rim has either completed an a-b-c after an initial down wave, or jaust the a part. Either way the stock should go down at least $20 or so so it should be sold. Note that the gap on the way down is now closed, and that both the MACD and RSI are decidedly negative.
SNC Lavalin is a favorite with many analysts, it is also at the receiving end, supposedly) of many of the “shovel-ready” boondoggles that are being force fed to the infrastructure segment of the economy, so what is their not to like.
Well this is a near perfect Elliotte wave structure, a first big leg down (5-waves) followed by an a-b-c pattern back into the proverbial “box”. There is still room to manouvre but not much. 5-waves never stand alone, so stepping aside might just be a very good idea.
Just an update on BCE. This is the standard A-B-C, note that often the A and C are vector equal, moreover it is not unusual to have C and A equal and both equal to B, so all three equal. BCE looks like it may just do exactly that, which would put the ultimate low in the order of $16/$17 or so, perhaps even lower. We know that Teachers recently dumped their substantial position and there may be others that are still dissapointed about the deal at $41.75 not going through. To see what it should look like one day , see below as GE has done this.
Once again, not yet at the original target of $160 but sufficiently high to sell for an almost 300% gain (sorry original predates this blog). The wedge-like shape as well as the deteriorating MACD and RSI warn that it is time to vacate this one and move on if not already done. As a comparison below is BAC which (also predictable) did the exact same thing but did go higher but not on a relative basis. Thereafter it did crash, which is not necessarily what must happen to GS, evenso it could.
