When AGU was around $50 I suggested that it would probable trade lower even if it could still get to $55. That opinion still stands.
So far the move from the low looks very corrective. I suspect that we are in a c wave of some sort that will not exceed $55.
We recommended this stock at around $6.50, basically on a buy it now type of recommendation. It made another slightly lower low a few days later. This stock is an absolute “model†ewaver in that it does everything precisely as it should. Here is the chart.
Notice that there is a clear triangle, that it breaks the channel (green) but stays very precisely in the new channel red. Also the low occurs right under the apex at a level that corresponds with the triangle’s mouth. As this one is so well behaved it should go to the high point of e $10 or right to the top at $13. Time will tell.
It is, by the way, possible to count this one without the triangle, however that requires a failed 5 of 3 with wave 4 equal to wave c in the triangle. Then 5 down to the low. This would target $11 as a minimum so it is mostly academic.
WMT is doing a 1-2, 1-2 start on the way down . Wave 3 should start now, perhaps coinciding with a generally up market. This is a most annoying stock but just as you are about to cave in , it may comply.
On the 10th of March this was suggested as a buy at $7, or if you did not mind misssing it at $6.50 (you would have missed it) Keep holding for about $9.75 or (30%) Same for EWN.
