Back in January we recommended a sell on this stock. It was a little above $31 at the time. It has lost about $10 since the and also about 60% of the rebound from September. Nice a-b-c down, perhaps. Or alternatively just a 1-2 etc., no idea so would leave it alone for a while.

The stock has gone to the top of the b-wave on the way down (see previous blogs) and has done so in a plausible corrective manner, an a-b-c with a nice wedge in the c position. It may yet get to $33.45 but it is hardly worth waiting for. A sell.

An almost completed correction. Overlap, if that is what it is, would occur at about $25.50 or so. Both the RSI and MACD are at pretty lofty levels. Time to step aside.

Back in July when this stock was just under $23 our best guess was that it might bottom around $17. It did not quite get there as it stopped falling at $17.55. Here is the chart:

In the event that you did manage to buy some stock at around the low, it might not be a bad idea to take your profit. From the low of Sept. 4 the stock has followed a pattern that resembles an a-b-c counter-trend correction. Provided the stock does not cross through the $25 plus a bit level this could still just be a 4th wave.