Then 15th of April, 2015 and now charts,as usual;
Not a bad prediction. The target was $5 and we hit $5.61 his is the stock that we warned would suffer from “stranded costs” at a time when that was not even remotely on the horizon. If you bought around the low you would have had a one day return near 20%. There are other stocks that have done similar percentages, as for instance TCK.B.
We are never perfectly sure as our charts do not have sufficient resolution but even though we recognize that somewhere here this stock might be a buy in terms of buying low and selling high, we do not think the stock hit it’s low. As near as we can tell only waves 1. 2 and 3 of 5 are complete. This leaves one more wave down to a new low!
Here is TCK.B
In the text, see June 22 , 2015 blog we mention the possibility of this stock getting to $5, the actual low was $7.08. Coming from $65 this may well be enough. However, normally, if there is such a thing, the C wave should make a new low, that is below the 2009 low.