The seemingly controlled rise on a constantly thin buy side makes me think we're looking at a fund taking a position, with now a few day traders on the wave. A bit too vertical for my liking, it makes me nervous, though if it is a fund i wouldn't expect them to sell anything till we have some trigger.
The question is, what is their target? The only quoted analyst target price i can recall is Lodge in August 2013 with a 12mth target of .85. Pre consolidation this is around .034. A couple of years ago we had some big buy ins up to .04 or thereabouts if i remember correctly, so i'm thinking unless someone with deep pockets has set a new target price well over a dollar, then we'll settle around the .80-.85 mark and maybe break through the 1.00 on confirmation of the IND.
Of course i'm also happy to be proven completely wrong to the upside and just have this thing keep going up to the 1.60's or even 2.60's, i certainly won't be complaining!
DYOR & GLTA
BLT Price at posting:
73.0¢ Sentiment: Buy Disclosure: Held