In this backlink I provided a model that expected higher prices in Volkwagon. The price was $27 at that time with a $37 price target:
The price is up since that post but has not made it to $37. In fact, it only peaked at $33.75. But that is all I think it is going to get because the model has since turned into a rising wedge. Bottom line is that I am now flipping from a near term bullish stance in which I modeled the direction correctly to a near term bearish stance which could likely find a bottom in the $15 range.
Sunday, January 29, 2017
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