PERI All Roads Lead to $5.89

May 3

Not sure what is going on with this stock but, putting aside the possibility of it going to zero, the chart strongly suggests a target of $5.89 or just below. Expect a bounce from here to about $18.32 (entry at $11) but this may not happen if the sentiment is very bearish - could just straight line to the target (or to zero...). Satisfying how it hit the 1.414 target of the previous expanding flat ABC so precisely; further increases the likelihood it will stop at the 1.618 in my analysis.