SVL Fibonacci Retrace
By Johns Wu on Jan 11, 2006
I’m going to be studying SVL’s fibonacci retrace in real time. Here we see the classic pullback pattern. I will be watching to see if the 38.2% line will serve as an invisible support for the retrace.
I’m excited to see the power of the fibonacci retrace in real time. Hm that sounded lame.
This entry was posted on Wednesday, January 11th, 2006 at 1:58 am and is filed under Annotated Analysis.
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3 Responses to “SVL Fibonacci Retrace”
By RC on January 11th, 2006 at 10:24 am
take a look at NTO, the volume has been great on the runup. the fundamentals are also solid.
By JWU on January 12th, 2006 at 12:31 am
wow NTO is too hot for me at the moment. any tips on how to trade this thing?
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Depends on how you draw the lines on the chart…
e.g.
1. In the current chart and the lines you have, I believe that the stock will retrace to 50% level (where it has good support) in conjuction with other indicators such as RSI below 50, FULL STO not yet oversold.
2. If I move the Fibo line to base formation at 1.7 then it seems like the stock would retrace to 61.8% level .
Only time will tell… lets see :)