My two bob,On a monthly chart there are two or three things that...

My two bob,

On a monthly chart there are two or three things that stick out like dogs balls ..Firstly from an Elliot wave from the high in June 2007 AWC has fallen into an ABC pattern short. Secondly, it formed a head and shoulders reversal pattern near the bottom. Thirdly we have seen a reasonably strong impulse move long .
So lets start with the head and shoulders pattern. Normally price will move at least 100% up from the neckline shown with the brown dashed line. So the initial price target is around $4.37
From an Elliot wave perspective, After an ABC pattern short it marks the start of wave 1. Wave 1 will normally travel longer in time and price than the preceding wave c . This means that the top of wave b is the target , which is around $5.50 Also if you run a sub wave pattern over the first impulse move you can see the sub wave pattern of sub wave 1 and sub wave 2, leading into what appears to be a current sub wave 3. Wave 3 will normally travel at least 161.8% of the wave 1/2 which puts a price target at $4.90, so if you are in it , hang on to it cause it looks like AWC is going long .
I am in at $1.69