2.25 to 3.01 wave 1 was followed by a 50% retrace wave 2 to 2.63
2.63 to 3.30 is Wave 3.
50% retrace is 2.97. we closed at 2.98 today but dipped to 2.92, possibly a technical shakeout. If it doesn't hold, 2.89 is 61.8% which was also resistance in the early rise of wave 3 but wave 4's aren't supposed to go much lower than wave 3 tops or 3.01 in SGR's case.
My sentiment indicators are low on the 60 minute chart which in the last 10 months have signalled a buy - they are almost identical to the break up from 2.63.
On the otherhand, psychological barriers from last year's meltdown and nerves got the best of me today and I lightened up a bit so the price will probably breakout tomorrow with an eventual minimum target of 3.55 in the next 2 weeks which is getting very close to the 1 billion $ mark.
Otherwise go down the list of resistance
2.89, 2.72, 2.63, 2.55, 2.25...
Or maybe we just bounce around while Jitney mops up any potential mess.
