Don't Miss Out On Great Gains! - Best Investment Newsletter


Click for FREE sample of Kirk Lindstrom's Investment Letter

Don't miss out! Subscribe Now

Search For More

Monday, October 29, 2018

FB- Facebook Inc. - Fibonacci Technical Analysis

Currently Facebook (FB charts) at $144.68 is sitting just above the 38.2% Fibonacci retracement level that spans the run from its all time low of $17.55 to its all-time high of $218.62.  From below, "After an advance, chartists apply Fibonacci ratios to define retracement levels and forecast the extent of a correction or pullback."
Click Image to see full size

This 35% decline is the largest decline since Facebook fell 53.8% just peaking at $38 after its 2012 IPO then crashing to $17.55 a few months later.
Last Blog Article:
More Info:
  • Fibonacci number
  • Fibonacci Retracements are ratios used to identify potential reversal levels. These ratios are found in the Fibonacci sequence. The most popular Fibonacci Retracements are 61.8% and 38.2%. Note that 38.2% is often rounded to 38% and 61.8 is rounded to 62%. After an advance, chartists apply Fibonacci ratios to define retracement levels and forecast the extent of a correction or pullback. Fibonacci Retracements can also be applied after a decline to forecast the length of a counter-trend bounce. These retracements can be combined with other indicators and price patterns to create an overall strategy.

 Subscribe NOW  and get
the
 October 2018 
Issue for FREE!!!

No comments:

Post a Comment

Kirk Lindstrom's Investment Letter Performance

Followers (New)