Often Misunderstood concept of Elliot Waves is its usage as a be all and end of technical analysis.
Simply put Elliot is not a predictive tool but is the "THEORY" of way the market moves, hence relying on it solely to predict future movement is problematic and the counts change all the time and in "RETROSPECT"
Am sure those fanboys may not agree with me but all...
Stock is hovering near multiple support
Fibonacci .618 @ 157
Previous top support zone @ 150-160
5 year trend-line support.
Price Action: December candle was bullish candle, and did not make a new lower low.
RSI is also turning flat.