SHAK - may rally to $60 - 63

The structure of the rally started at the lows of 2016 looks impulsive. As long as SHACK holds December 2018 lows it looks good for a start of a rally in wave ( 5 ) up targeting a new all time high. However, the first leg up in a wave (A) of ( 5 ) up is always a weak to make a sustainable breakout. In many cases it stalls at 61.8%-76.4%-85.4% of the decline in wave ( 4 ) down. That gives us a potential target for that potential move up at $60 – $63.

SHAK - daily chart updated on 4 February 2019

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