STRAT Update: Short Term Target $11.03; Long Term Target Target $140 (35x !!!)

SUMMARY

On my last update for STRAT, the below chart was used. This was a log chart and the upper/lower white lines outlined a bullish broadening triangle. Prices had completed a five wave impulse as shown by the red circled roman numerals and touched then bounced off the upper white line.

Elliott Waves states that after five impulse waves, there is a requisite retracement in three waves. To that end, I had labeled blue circled waves a and b as being complete. Thus, cirecled blue wave c was in progress. The red line also marked a probable scenario where price would touch the lower white line of the broadening pattern. The dotted white horizontal line was drawn to outline the potential descending right triangle which could be bearish and thus add impetus to the down side.

Below is an updated chart where the new price data seems to be completing and a,b,c,d,e triangle consoldiation pattern. This means that a,b,c,d are done and e waves is left. Once complete, a very bullish scenario to unfold as shown by the blue circled waves. Bear in mind that blue circled wave 2 could also represent a significant correction as this is in a log setting. So, allow the prices to flick around and better knowledge of TA will alllow you to not be so easily moved by prices flicking around. Shorter term target is $11.03 and Ultimate target is $140!!

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Legal Mumbo Jumbo: This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative or entertainment purposes.**