Hercules Offshore got hit really bad during 2014. The bearish butterfly was an indicator of a bad 2014 ahead. I though 3$ was a going to be a base, but the oil price crash made it almost a penny stock. I see that it will remain range-bound between 0.9 to 1.29 until June 2015. Resistance is at 1.29, 1.70, 2.09 and finally 3.48
The XA drop is approximately 45$ (from 74 to 30). Based on this leg, the leg AB should be approx 61.8% of the XA leg (TRUE because 30+ 26 = 56 ). Secondly, the BC drop should be approx 61.8% of the AB leg (TRUE because 56-17 = 40, where we are approximately NOW ). The BC drop is a congestion zone and the pattern usually takes longer to resolve in this area. For...