1-2-3 Chesapeake long or short?

Is the uptrend history or can CHK reenter the trend and make a new HIGH?
When you believe in 1-2-3 pattern (

), the opening of a shortposition below the last valid "3" is thinkable. TP could be 1,55$!
Cyclical Longs can be opened with Prices > 5,20--> TP 8$

The Zone in between 3,5-5$ seems to be neutral