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Fibonacci Stock Analysis
CLL:TSX
For the High price of $4.46 and the Low price of $3.85, the retracement levels are:
For Buying For Selling 38% level = $4.23
38% level = $4.08
50% level = $4.16
50% level = $4.16
62% level = $4.08
62% level = $4.23
Fibonacci Retracements help you identify buying and selling opportunities in the stock market.
Here's exactly how to pinpoint those Fibonacci retracement levels:
First, find a stock chart with an obvious high and low price.
Second, note the high and low price. These levels will be used to calculate the fibonacci retracement levels.
Third, type in the price levels into the Fibonacci calculator and click "Calculate".
That's all there is to do. The Fibonacci Calculator will tell you what the 38%, 50%, and 62% retracement levels are. Those are the price levels where you will look for buying or selling opportunities.
The general interpretation of the Fibonacci studies involves the anticipation of a change in trend as prices near the lines created by the Fibonacci studies.
History And Theory: Leonardo Fibonacci was an important mathematician who was born in Italy around the year 1170. It is rumored that Fibonacci discovered the relationship of what are now referred to as Fibonacci numbers while studying the Great Pyramid of Giza in Egypt. Fibonacci numbers are a sequence of numbers in which each successive number is the sum of the two previous numbers: 1, 1, 2, 3, 5, 8, 13, 21, 34, 55, 89, 144, 233, 377, 610, etc. These numbers possess an intriguing number of interrelationships, such as the fact that any given number is approximately 1.618 times the preceding number and any given number is approximately 0.618 times the following number. There are four Fibonacci studies: arcs, fans, retracements, and time zones.