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The correction may consist of five waves. So far, only four have completed.
The fifth wave labeled e is expected to start around $4.46 and then travel towards $4.39-1/2. A falling channel and a rising trendline suggest the same.
A Fibonacci retracement analysis on the uptrend from the Sept. 19 low of $4.35-3/4 to $4.62-3/4 reveals a resistance at $4.46, a break above which could lead to a gain into the range of $4.49-1/4 to $4.52-1/4.
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