For this particular price target and the trading range of EXM today, a 150 day daily chart will be looked at. This is roughly the time frame from the 4.59 low on 7/7/10.
From this low EXM made a high of 6.31 on 8/2/10. This will be used as a wave 1 to determine the current price point in the possible Elliott Wave sequence. The projected wave 3 price target from this magnitude is 8.43.
If the the 5.00 low on 8/25/10 can be used as a wave 2 low, a new 5 wave sequence higher to the the wave 3 target can be projected. Using a projected wave 2 low instead of actual, at 5.24, an internal wave 3 of 3 price target of 6.67 is generated. EXM traded 6.63 on 11/11/10.
A 62% Fibonacci retracement correction from this level was projected at 5.79. EXM traded to 5.45 on 11/30/10. Trading higher from this low to 6.17, and now correcting almost 100% of the move trading a 5.51 low today so far.
The 5.45 low could have been a developing A wave low of an internal wave 4 triangle, that should trade to wave 5, parent wave 3, target 8.43.