The primary backlink model is in red above and even though the current snapshot below looks almost exactly like the model, I have not put any new model update on the chart below because of the shape of the wave. It tells me that the red model above is not slam dunk but rather sitting on a knife edge waiting for the wind to blow it off one side or the other.
A breakdown here would be indeed catastrophic leading to target price of $24. Yup, all the way back to 2012 valuations. However, if this can build a base here instead of collapsing down in the next 2 weeks then the stock actually has a chance of hitting $125 some time after mid 2016. Better still, if it can do that then the subsequent pullback will likely be to $65, not $24.
Note: a small loss from here that quickly recovers above the neckline again might be telling us that a large 4th wave HT is finishing (current wave would be E of 4 in that case). But below $60 and the odds of that happening fall off very rapidly.
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