This seems to be the bottom of ALCOA (AA).
Expect a rebound from here.
TECHNICAL INDICATIONS:
FIBONACCI 38.2% retracement, Supported by previous resistance and support
Stochastics crossover and moving upwards.
Peak volume showing reversal possibility.
2 comments:
Hi.. How did you draw the "support/resistance zone"? what was you peak # and bottom # you used getting Fridays # for FIBONACCI 38.2% retracement?
would you mind to explain?
Thanks!
I used my March lows and JAN Highs to draw this fibonacci.
As for Support/Resistance, look at the latest chart. That is how I got it.
Hope this is clear.
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