SNC-Lavalin Group Inc. had a sharp decline from $59.63 to $36.24 over a period of about seven months (A-B). It then had a series of rallies and sell-offs mostly between $36 and $47 for about one year, which produced a bullish technical pattern known as a triple bottom (dashed lines). The recent rise (C) signalled: renewed investor interest, a breakout from the bullish formation and the start of a new up-leg. A better entry may occur toward $44; only a decline below $42 would be negative. Point & Figure measurements provide targets of $52 and $55. The large triple bottom supports higher targets.
Chart source: www.decisionplus.com.