Stock Incubator

[dalcindo]

FAS (x3 Bull ETF) - At Important Fib Cluster Levels:

Three Fib grids drawn with overlaps are forming clusters to highlight intersection of pertinent pivots, where the highest number of overlap (clusters) adds to the importance of that particular price level for support/resistance determination.

The widest range sets a comparative scale against which lesser Fib grids are compared; lesser grids are drawn within that price range at pertinent pivot points. Three overlaps create a cluster to help highlight the importance of that price level.

Recent close occurred past the largest Fib's 61.8% level, and past the next 100% fib's level - This may suggest that current rally may have paused (RSI bearish divergence), but not terminated (RSI in positive spread, secondary indicators in positive territories)

Let's see next week whether this makes any sense:

21-Day, 15-Min. Chart:


D.