Click on chart for larger image
In October 1996 CCL hit a high of $18.15.
From a low of $3.06 in June 2000 it began to climb in 5 Elliott Waves to a high of $10.75 in December 2007. This was the topmost price of the Head and Shoulders pattern in the chart above.
The H and S measurement formula (vertical red lines on chart) indicates a minimum price target of $6.52 over the next several days or weeks.
Note the declining Simple 150 Day Moving Average - an ominous, worrying signal for die-hard Real Thing bulls.
James Leo Donoghue in Sydney, Australia
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