With the new high its now possible to label 5 waves from the 2016 lows, thats important as it can also end a much larger impulse wave (5 wave advance) from the 2010 lows. A strong move below 114.51, then 110.00 is needed to support further downside and suggest a top in place for wave 5 of wave . If you own this stock you may wish to put protective stops at 114.51 to lock in any gains you have.
Once a 5 wave advance has ended, a 3 wave pullback would be expected. A move towards 70.00 is not unreasonable.
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