why the almost 5% decline today?, page-18

From a charting perspective WHC has potentially topped out for now . Looking at Elliot wave , it appears to be on a long term wave 3 and a subwave 3 of that wave 3 . Price has risen over 500% of the sub wave 1/2 pattern so it is due for a pullback into a subwave which should see price retrace between 38.2% and 61.8% of the range of subwave 3 . To put that in perspective that is $4.41 to 3.21 before moving back up into a subwave 5 . Having said that though, if you run an extension over the wave 1/2 pattern, the minimum target for a long term wave 3 is the 161.8 extension which puts my target at $9.94, assuming my wave count is correct. Factor in the climate change narrative and the fact that overseas there are a number of coal fired power plants being constructed and we wont be opening any new coal mines anytime soon, then coal exports has the potential to increase so the higher price targets "could" be reached. I wont be selling anytime soon