Triangle here? Projects to about $4. That should be a trade on the long side for a gain to, perhaps $8.

The usual then, Feb. 14, 2016, slightly mores than one year ago, and now charts;

One year ago we anticipated a rebound to, roughly $40 and then down again to the 4th wave of previous degree and/or where wave C would be vector equal to wave A. Today we hit $6.32 which is essentially the target. However this entire drop from the $55 high could be either an A-B-C X A-B-C or simple an A-B-C. In the latter case the C wave, starting from near $40 would have to subdivide into 5 waves. It does not! See below;

As you can see , we must be either in wave 4 of wave C, or, worse, in wave 4 of 3 of C in which case we still have 4-5 and 4-5 to go. Todays drop is , given the large gap, clearly a third wave. Having said that, it does not necessarily follow that the ultimate low will be substantially below where we are now.

Probable it should be bought soon, but I have not followed recent developments too closely to be able to assess if the worse is over. By the way, HCG is not the only financial institution that used agents to meet growth targets. Confederation Life falls into this category and so does at least one credit union that I am aware of.

See our previous detailed report on this stock. We recommended a buy at the $23 level or slightly lower for a target where the gap would be closed, possible, that is at about $40. We did not go that little bit lower but it is, of course, not a good approach to forego buying for the sake of a dollar or two to miss the boat for $17 potentially. Anyway, here are the charts again;

We were toying with the idea that the gap might be closed. In hindsight we are not so sure. All too often support on the way up becomes resistance on the way down. Here at $36.20 we are marginally into the gap but also at the trend line of the multi-year channel. You are up roughly 50% so this is the appropriate time to get out.

It is possible that from the peak we are doing an initial 5-wave sequence that is confined by the blue channel. A, in my view, better take would be that we are actually in the red channel and that the low of wave 1 or A down was made several months ago in August. From there a large irregular flat is almost complete to make wave B, which explains why we did not make a marginally lower low. This fits well with the notion that the gap, in green, is often in the middle (of the extremes, regardless of the count). The RSI and MACD are soon to roll-over and if wave C (next) would equal A then we are looking at a target of about $5, essentially the same as we calculated in our previous blog on this stock.

Mr. Soloway who started with the company when assets were at $51 mln. has announced his departure as CEO after 30 years. The company is now a $25 bln. outfit (growth of 490X). The soon to be new CEO joined the company in 2007. New brooms sweep clean but only the future will tell if this one does.

The usual then, less than two weeks ago, and now charts;

The high on this stock was $53.78 and the recent low $22.99, that is a drop of $30.79 which is 57.25% of its value at the peak lost in little more than a year. As we do not know, and cannot find, the starting value of this stock we cannot calculate what percentage this is of the increase in the value but we assume that it would be very close to the Fibo. 61.8%.

If you played this stock you are up about 40/45%. We suggest you take that now or after a dollar or two and step aside. The reason is that we may be further along in the wave count than we originally thought. Closing the gap is less likely but the stock could get to $35 or so but we would not wait for that. Both the RSI and MACD could be ready to rollover.

Long term the target stays the same at around $7 or so. Note that wave 1 is $53.78-$25.46=$28.02. Reverse engineering that, assuming C will be equal to A, you get $7+$28.02=$35.02 for the high of this intermediate correction (an irregular flat).

Keep in mind that the count shown is just the preferred one, there are one or two other possibilities, as almost always.