The strong monthly reversal from the measured move target I think can strongly suggests a peak is likely place for wave [5], staying below 85.00 favors more weakness. If you own this stock, you may want to respect the monthly outside reversal. That is generally considered a bearish sign. If an impulse wave is completed (5 wave advance), then a 38.00 -50.00% retracement would be favored.

A 5 wave decline from the May 2017 highs would be a strong reversal sign.

Edit – (16th Jun 2017)

Another idea that is possible is that if the current decline is in 3 waves, then we can label it as wave 4 of an ending diagonal for wave [5], so a marginal new high can also end wave [5] and setup for a major reversal.

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