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re: Apple up over 10% and $47 since last week....what do we see first $500 or $400
Posted on 5/6/13 at 2:57 pm to NC_Tigah
Posted on 5/6/13 at 2:57 pm to NC_Tigah
benny im not a trader or anything like yourself just simply a buy and hold type but what you posted is fascinating stuff for sure so you basically are saying when a stock hits bottom 23.6% higher is the resistance point? Very interesting never knew that.....so is it the 52 week low or what low do you use in your calculations?
basically where did the $460 come from as a resistance point?
basically where did the $460 come from as a resistance point?
This post was edited on 5/6/13 at 3:07 pm
1
Posted on 5/6/13 at 3:14 pm to ThaBigFella
Exactly, you get the 52-week high and 52-week low. In between those you map the Fibonacci percentages, 0% = 52 week low, 23.6%, 38.2%, 50%, 61.8%, 76.4%, and finally 100% equals your 52-week high. Look from the high in mid-September to the low recently mid-April. Even before we hit the 52-week low prices were using these lines as support/resistance levels. 
Let me see if I can upload the Bloomberg screenshot to photobucket to show you what I'm talking about.
Let me see if I can upload the Bloomberg screenshot to photobucket to show you what I'm talking about.
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