BigCharts shows better. Wave 3 of the drop, invariable the one with the big gap, is rather easy to identify especially since the gap is pretty well in the middle. This , however, leaves the possibility that the 5-wave sequence is not yet complete as there is at least one, if not two, waves before wave 3 starts. This leaves the possibility that we are presently in a 4th wave. One can never be certain but the up move from the lows very definitely looks like an a-b-c. If you did buy , as advised, and are still holding it, I would sell at about $8.30 if it gets there, otherwise use a stop-loss at , say, $6.45, just under today’s low.

These are some of the old recommendations, click on charts  and they will get larger. You can also find the entire blogs by going to the index. We recommended a sell at about $5 simple because that was a huge gain in a very short time and because an a-b-c correction could have been complete at that time. It did drop 50% from there so what is going on now?

When a stock drops in a 5 wave sequence one should expect a A-B-C correction, this can be simple or complex. We did the A from a $1.29 low to $5.30 or $4,01. Then wave B cut that in half to $3.36. B should continue up to $8.37 where C=A ( 3.36 + 4.01 = 8.37). The gap starts at $ 8.53 so it may try that as well.  Ultimately higher levels are certainly possible. $13.57 would close the gap and that is just a 50% retracement but all this is pure speculation. Stick to the sure stuff.