Currently, the wave count would have QCOR completing either wave ((3)) or wave (1) of ((3)). The latter would obviously be a more bullish count, but another correction to the $10 zone is possible. My long term target is $17.50 using the more conservative count.
Friday, October 29, 2010
QCOR Breaks Out From A Triangle
QCOR broke out from a 4th wave triangle today as its earnings report and guidance exceeded expectations. However, the triangle price objective was also met today so it's not clear whether a correction will follow next week or whether the amount of time spent consolidating in the triangle will allow for additional upside.
Posted by R. Craig Pritchard at 5:46 PM