SRPT confirmed it's ABC Down Pattern today by closing under the $34.20 low of July 30th on more than 1.65 million shares.
Odds are now 90% that this current C-Leg down will not bottom out until it gets into the $20.95 (1.382 fib expansion area) to $25.97 (.1.0 fib expansion level).
The long-term channel lower trend line is right around that $22.50 to $25PTR area (on a diagonal so hard to pinpoint where exactly SRPT will test it.
The good news is that odds do at least favor SRPT bottoming out in that area.
Charts don't predict the future they are more like a stopped clock...right twice a day. If SRPT was given AA the stock would be more that twice the current level. Instead there was a "delay", but not a change, and everyone sold on that news. Today you predict $20.95. Today Forbes says the stock is grossly oversold. Tomorrow could be favorable news which lights a fire under the stock again. Does your chart allow for those factors? In short, news drives the stock up or down not shareholder decisions made in a condition where there is no news (i.e. a chart that repeats the past). Your $25 prediction has been wrong for a long time. The sell-off is close to over. How's the stock going to continue to $20.95 now that the stock is reaching prices well below the likely present value of future earnings as predicted by analysts?
Sentiment: Strong Buy
Bud, I have to admit, you and you're charts are amazing. You were right and all these so called experts were wrong. If you keep Mirjana out of your advice, you might be able to start charging again. You've certainly convinced me. You were calling for $25 when it seemed everyone else was calling for $80-$100. Glad I got out with my shirt. I 'll buy back in @ $22.50. Thanks, Old man on the hill.