@rjs99 the most common approach is to chart fibonacci ratios -from the trough of the move to peak
fib ratios are mathematically significant retracement (and expansion/progession) levels stocks go through
the move on BUD was 19.5 to 41.5 = 22c - so 30.5c marked a 50% fib retracement - which is actually among the most common pullback levels - its usually 38.5%, 50% or 61.8%. so once it moved below 30c it was likely going down 9though apparently 50% isnt actually a fib number - the others are)
but what FA would tell you is that the stock didnt have much fundamental support in terms of earnings - so pullback likely much deeper = 75% or more. which is what i mean about how FA helps you interpret TA
Thats why for eg showstring was 'wrong' on the way up about the 14c pullback from the 27c top on the 2nd wave move- but could well be right about this one - because is the first retracement wave of the overall wave pattern according to elliott wave theory or the A wave
pullbacks are much steep the higher youve gone, the less valuation support a stock is perceived to have and also turn on the sector demand - cold - neutral - hot. bud's happened to gone stock specific cold (newsflow disappointment) into a neutral market - after being stock specific hot in a hot market.
thats the long answer
the short answer is - no one can decide for you. see long answer.
