Texas Instruments is a model example of the B-wave, of which we have shown dozens and dozens on this website. This is the typical A – triangle B – C version that is so common. It is not entirely perfect but if you look at the stylized depiction it is pretty clear. The next, first targets for all of these patterns is is the B-wave level, in this case $22. It can go a lot further than that.
Two and a half moths ago it looked like a triangle was forming. This may in fact be what has happened except that the e-wave is a bit anemic. In any case the advise was to stop out at $100 if not sold on the e-wave. Now that we are outside the triangle it looks like the original target of around $50 may be a little too optimistic. Over supply in solar panels is running at very high levels, government support programmes for things green are frustrated every where and the panels have become commodities. Much lower prices appear inevitable.
On the left the chart from june. It was then expected that the stock would trade to the trend line connecting the lows.I had not looked at it for a while but certainly came close $11.75. The question now is will it still do that or is it already in the next up leg. Not sure but should it get to , say, $11 now then it is definitely a buy for $5 to $10 up.
Fortuna has spent the better part of this year rotating around, roughly $5.50. This behavior could indicate that a triangle formed, either from the beginning of the year (purple) or from April. I prefer the latter as the thrust would still fit inside the established channel. The target would be a little under $8 at around the time of the apex (about 2 months from now). An alternative that is perhaps the best count is that there are no triangles whatsoever and that the stock is forming a wave to or B just under the level of the previous top. This fits best with the action of gold itself and that of the Swiss Franc that was down by a hefty 8.5% today, an unheard of large move. Whatever the count this stock should trade at $4/$3.50 in the very near future, perhaps lower. A sell.