Some time ago this stock was expected to drop (after a triple top over many years), it did drop after peaking on the trend-line. The drop is a 5-wave move and therefore there is a very good chance that further drops are in store. Even so a brief attempt at $46 cannot be excluded. All in all this remains a short on a risk/reward basis.
TA looks like a buy as, arguable, we are in the 5th of 5 or already in some corrective up-trend. Buy here or a little lower for a target of about $27.
I am assuming, as I did before (see SLF), that 5 down was complete and now at the very least we should have a correction back to the top of the triangle, normally in an a-b-c structure. The a was complete with the big move up and now for the last day or two we have been working on the b. As indicated, on SLF at about $19 or so, it should be bought for the c part. Here are the charts.
It is hard to tell if we are down deep enough, it is simple a matter of weighing the chances of missing the boat against the potential of $5-$10 up. On the next down day I would buy.
As with the other indexes I am not at all confident that this one has completed a first 5-waves down. As it was recommended at 7000 I would sell now just waiting to wsee what happens next. Looking at the RSI and MACD this may in any case be close to a top. for the time being. This , of course also applies to the EWJ.