I see a head and shoulder forming with a measured move to the gap fill. Makes sense to me. Plus I generally think this Company is up on hype and hasn't yet come back down to reality.
A sell off occurred after an edit to the despac-ing prospectus was filed: www.sec.gov A couple funds liquidated all of their positions. I was too lazy to check the original filing to see what the data changed from. Worst case, they showed them keeping all of their holdings. Regardless, I figure the drop is unwarranted since I don't think the SP action would...
Very simple idea. Leg5 of a 5-count EW set off by any one of several news items/updates expected shortly from the Company. I'm all-in for this move.
Its just what I see as I am looking to average down my Oct $120c.
Wave 4 complete. Beginning wave 5 to all time new highs.