While the count below might look nearly exactly like the blue model, that blue model is bust because today the shares made a new low. If this model is correct, the massive volatility on SUNE should continue until the end of the month at which time I think oil will have bottomed and SUNE, which is trading with energy right now, will probably see $2. I might have drawn bluw 4 a bit too high, it cannot go into the range of blue 1 and still be considered blue 4. So think peak at $6-$6.50.
This is a very risky model IMO and I want people to know that. But because it is so risky (read low odds of occurring), IF it does play out like this and you see SUNE sitting at $1.80 or $2 by the end of January where the EW chart is now predicting a vee 4th to USO $20, well, just think about what such a move in USO would likely mean to SUNE.
Darn, Sune is not moving up I am afraid, it is consolidating in a triangle. Fingers crossed.
ReplyDeleteCaptain, has SUNE just finished doing your last w5 down? TIA.
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