thanks for the posts Snoopy.
I appreciate the effort and the sharing.

fwiw my chartist view confirms a bearish view though a lot of support would be found at $3 the purple line
Note I'm not saying 3 will happen but the bearish gartley pattern will exert a lot of downside pressure.
Attachment 9015
interestingly , or not , the chart resembles FBU another disappointing company although I've drawn a harmonic pattern on this one (the gartley), whereas for the FBU I drew a channel. SKC's channel is slightly expanding though, and it has tested more aggressively the lower levels of the channel , which I admit are not that clear to me (and I havent shown them). It may have even broken them. If that is so the situation now is one of 'coming back to test' and would make a sell even more enticing



Snoopy , your FA view says $3.50 is fair value. This chart targets $2.50 which would exactly be a 20% overshoot on the downside in accordance with your 'rule of thumb'. Probably require something pretty gnarly to happen for that to occur but just an interesting coincidence I thought.