I have been dead wrong on this one previously (the wedge just kept going!). Now things appear to be a lot clearer. Here are the charts.
Back in 2003 this stock briefly flirted with bankruptcy; that is where we start the chart but there is a wild history before that. They did not go bust, instead, ironically perhaps, they occupied the offices of Confederation Life, that did go down .
After the top at $50 the stock starts dropping well before the market as a whole, losing about 50% to $25. It then trades back up a precise 62% and starts falling again. It never reached the “logical” point of about $20 (4th of previous degree and 62%). It may well do exactly that in the near future after first trading to about $37/8 as it completes wave 2 of C.