$BBBY W4 retrace and W5 push to $30

BBY looks like its completed W3 at the 2.618 extension after a really deep W2 that nearly retraced 100%. Its also hit the 1.786 extension on the FibFork. This along with the Stoch RSI and RSI being extremely over bought, it looks ready for a W4 move down.

Because it such a deep W2 and an extended W3, i think it will have a shorter W4, not retracing fully to the 0.382 level. Instead i think we see a stop at 0.236, which also lines up with the median of our FIbFork.

From there we can proceed to W5, anywhere from 23.6% to 50% beytond W3 high.

This puts W4 buy zone rite around 25.50 and a W5 PT of $30-$32.

The time analysis show W4 coming in around Jan 19-20 and W5 around Jan 25-26....this makes sense to me cuz of the potential for political noise around Bidens inaugeration. Might creat some choppy and uncertain conditions, but once he's sworn in we could see a surge in volume due to the prospect of future stability and stimulus aid.