This is the TMX Group, and yes we would have sold it earlier at $45 four years ago. But that was then and now is today. Briefly we were at least 40% below the peak, but typically when you have a big B-wave (see also FFH) the C should take the stock down as far as the A leg,$25 and most often to below the A’s low, $20. It should do so in a clean 5-wave sequence.
So how does one know that it is a B-wave in a large A_B_C flat? Symmetry. B-waves are 3-wave structures. If you can find perfect symmetry you can bet your bottom dollar that that is what it is. Here you have that. If you were to put a mirror where the blue line is, both sides would be perfect and opposite reflections of each other.
TMX is an exchange, they make money selling information, charging for trades and listings etc., the more business the more income. They did not make any in the last quarter. Not good so early in the game!