Intermediate wave (2) has already retrace 61.8% of Intermediate wave (1). It also has completed a three wave structure downward ABC, hence; I believe Intermediate wave (2) has already completed and we are now approaching Intermediate wave (3) - which I expect it to reach at least new all time high.
- Stop loss is set at the new low of around $6.
- Personally, to me the upside are endless with a limited downside; therefore, it has a good risk reward ratio.