SUMMARY
Sears Holdings (SHLD) has been kicked around like a worthless empty can. However, as a Technical Analyst, the below chart is quite intriguing. Just the pattern of the downward wedge speaks volumes for potential. Probability is leaning more and more towards a potential breakout that coudl surprise many SHLD bears.
When adding the Elliott Waves, the ABC correction shows how it fits into the wedge pattern. The C wave is sublabeled as wxyxz sequence. Price is very close to the apex and the more proximal it gets, the more close the breakout event. Now, see how the MACD is also coiling and getting ready to explode. Would you be taking buying or selling actions at this point for SHLD?
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