Technical, page-397

My 2 bob,
I tend to look at Elliot wave over a much larger time frame and use it to establish over stock direction. So on a monthly chart it has definitily come off an ABC pattern short and we are now looking at impulse moves. We are currently on a monthly wave 3 , which may or may not have completed,
If we drill down into a weekly time frame you can see the monthly elliot wave as depicted by the black dashed lines. It does appear that we may have completed a weekly elliot wave 4 and are currently form a wave 4 hence the sideways movement . This may indicate a shallow wave 4 retracement . Once that is complete we could be off to the races with targets between $ 8 and %9.45 with are the 50% and 75% ext off the current wave 4 pattern