The last 2 highs have been met with a strong RSI divergence, so I suspect the last high is a large 5th wave of an impulse wave that started from the lows in 2014. So far the weekly candle is potentially showing a shooting star, so the bulls want to pay attention to this stock as the wave structure coupled with a potential weekly shooting stare could well suggest wave [5] of an impulse wave is completed.

Elliott Wave suggests whenever an impulse wave is completed, a retracement in 3 waves to the previous 4th wave can be expected, so in this case 26.00 would be the initial target, although more weakness could be seen. If you own this stock you may want to think about cashing out or taking some money off the table.

When you look at the volume in the last rally its clearly showing weakness, thats further supporting the idea the last rally is likley a 5th wave as shown. Caution is needed if you own this stock. For traders, this stock could present an opportunity to sell this stock.

Do you have a stock that you want evaluating? Purchase a consultation call and get an independent review through the lens of Elliott Wave. With the US stock markets vibrating around the previous all time highs, it may be prudent to think about protecting any gains you have.

Click here to purchase a consultation call CLICK HERE

Click here to purchase a Elliott Wave report CLICK HERE

Note: If you are a member,  you can email me or send a tweet for an update if you are thinking about trading this stock.