chartwatch, page-3

Nice to see that BLT reached theoretical EW target today @ W5 =W3 (so far)
Is that the end of it though for W5? Doji today suggests indecision on the part of punters but stronger sentiment that I detect in the last 24 hours may move BLT along tomorrow. If this happens then the next Fib targets are 77 cents and 80.5 cents. I like the latter as that is also the price at which W5 = 2.61*W1 (Fib multiple)

It would be nice to see W5 progress further, as in EW theory that might reduce the likelihood of a significant retrace. W5 to about 80.5 cents is also a nice projection because it is around this price that BLT will hit the upper parallel of the Median Line projection. Otoh, BLT has hit the median line (yellow) today, and could well pull back a little towards the lower parallel at about 64 cents in the next day or so.

In summary: I'll be looking for about 80 cents within the next few days. Four more trading days this week to get there.

Btw: This posting is for amusement only and is not to be taken as financial advice. It's nice to be able to look into the future with EW; sometimes it does actually work out :)