A minor new high potentially ends a larger C wave of a zigzag correction, if you hold this stock you may want to consider taking profits or at least lifting stops towards 124.80 to protect any gains you may have.

The suspected ABC rally from the 2016 lows is correcting the prior impulsive decline, generally speaking a 50% retracement is a good target, although if we can clearly count an ABC pattern that has enough gyrations to suggest its completed, then we generally want to be looking for evidence of a turn. A minor new high would look best, so watch for a spike above 141.00-145.00 that could well find sellers.

A strong move back under 124.00 would likely suggest the advance is completed.



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