I'm back from a month long vacation visiting the Canary Islands
It's playing out the way I draw my chart a month ago.... so just an update. The stock is very bullish and so is gold. (XAUUSD). If we are very very lucky we see a 61.8 retrace for a perfect right formed shoulder.... but doubt that it will be getting down there when it's that bullish. I do hope for a 50 fib retrace but see it most likely only making a 38.2 retrace The left shoulder was in the making for 19 days - if market shows perfect symmetry...we'll see a neckline break close to medio march. I have therefore starting a pick up of the stock again for a nice gap-close ride at shs-target :)
There is a confluence in the area 3.31 to 3.06. If a 61.8 retrace of the latest swing we have 3.20. So somewhere in the area we should see a top of a wave 3 up. 5th wave will then possible break the overhead resistance (Red line).
You could draw the same trendline from the 2006 top to the 2008 bottom, you drew is incorrectly, its going higher than 3.00. We have a triple bottom at the same area and each hit #1 1.58 to 7.82, then #2 1.56 to 5.34, then #3 $1.63 to $9, target 2016.
Nailed it.