Disclaimer: I am not saying that the following will definitely happen because it is based on assumptions that may not eventuate. But it is "food for thought" and should generate a lot of "vigorous" if not "heated" discussion.
Hypothesis: Correction could complete at approx $9.00 towards the end of the year (Nov - Dec 2017)
Assumptions:
1. Stock continues to follow long term parabolic uptrend (green up sloping line on attached chart).
2. Stock continues to correct at the current rate of descent.
Calculation:
Correction could end where downtrend line connecting swing point lows (blue line sloping downwards) intersects green parabolic uptrend line.
Note: The price projection matches fairly close to the price levels of the three swing point highs in 2007, 2009 & 2013 which would be a logical level of support.
Whether such a wonderful company as PMV could fall to $9.00 is probably unlikely but stranger things have happened in the stock market.
Monthly Bar Chart
PMV Price at posting:
$12.36 Sentiment: Sell Disclosure: Not Held
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