Weight Watchers International $WTW has been in a sharp bearish correction. At least from hindsight, we can see that the rally in 2017 into mid-2018 - to a fresh all-time-high of 105.70 - was unsustainable and is therefore being corrected sharply. I think we should expect the bearish correction to continue until it wipes out most of the gains since 2017, then I think WTW could be a bargain again.WTW Weekly Chart(click to enlarge)Expanding Highs and Lows to End:- The weekly chart shows us that WTW has been in an expansion pattern since the early 2000s. - Intuitively, this can not continue. - I would expect price to hold above $3.66. Expecting eventually settlement into middle of price range:- Even though I think price won't make another lower low, price could still fall below the 200-week simple moving average (SMA).- WTW has not been able to hold above the 200-week SMA outside of the short-term.- So while we can expect some short-term support around $30, I would not buy for a long-term trade until price gets down to $20, and preferably around $16. - When we look at the price action in the last 17 years, we can see that there appears to be a "central equilibrium" around $40, or in the $30-$50 range. - I would put $30 as a conservative target and $50 as an aggressive target, with $60 as the maximum bullish target. Again this is assuming that expansion phase is over. - I just can't imagine the market continuing to regain that mania-like bullish confidence after seeing the sharp mania-like rally in 2017 crushed in the second half of 2018.