chartwatch, page-2

More support for target of 71.5 (approx) cents on Monday is that wave 5 at about 71.5 cents is 161% of wave 1. A nice EW Fibonacci ratio. Not that I have all that much faith in fibs, although I have been impressed over the years by the frequency with which a "nice" EW pattern fits Fibonacci ratios. A somewhat subjective but useful art to take advantage of on occasion. So if BLT then gets to about 75 cents or thereabouts we might see further progression to a cup and handle formation in the absence of positive news for the TT 034 trial as there is likely to be a bit of profit taking here. However if we do get positive news at about this point then it is per ardua ad astra imo. Alternatively, if we do end up with a nice cup & handle formation then BLT could subsequently rocket away from the end of the handle if there is good volume on positive news.

Btw: none or only some of all this may actually come to pass, such is the wobbly nature of charting :(

GLTAH. dyodd