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.

Fortuna seems to be making a triangle, but it could just as easily be a B wave as it is not clearly in a wave 4 position. We will keep an eye on it.

This stock has not crashed (yet?), in fact it stayed pretty well level for 6 months or so. This one is like a micro cosmos of the TSE itself. Depending on how you count the thing, we could continue up, or drop like a rock. Typically where you have an irregular b-wave (in blue), the subsequent C-wave drops below the start of the A-leg. This has not happened and may hint at a bullish resolution. On the other hand the drop from the actual top is a, relatively clear 5-wave affaire followed by an equally clear correction. This would favor the downside. The big picture, see previous blogs, also favor the downside.