The divergence of SLR and RED might suggest the big boys of SLR will say NO to the merger: it will be a joke when price of SLR is 5+ times of RED.
A possible dominant trend of five-waves since July 2015 showing the wave 5 will be quite strong when:
Wave 1 and 3 are normal motive waves, thus wave 5 almost must be extended (much longer and higher than the formers)
The ending diagonal C leg of the Correction wave 4 ($2.25 - $0.8)
The leading diagonal of some kind of wave 1 ($0.8 - $1.22)
Sharper rise of wave 3 since $0.97
How if 2008-2015 is just the WAVE I of a super cycle, then SLR is in the WAVE III?
When the shares are highly concentrated in the hands of those top x holders, I don't believe they would be happy to surrender the shares accumulated in decades to mercies of RED? I have my conclusion and will not track the favor or not of the merger any longer.
Cheers.
SLR Price at posting:
$1.22 Sentiment: Hold Disclosure: Held