Thursday, August 11, 2022 4:15:56 PM
GSFIs fall from 27s to 13s!?:
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Number of things can be discerned from this fall from 27s to 13s, ofcourse it goes without saying burger/pizza beer flippers, MMs, shorties and company greed to grab cheap shares!... All are included in it.
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However, when a Bullish rally of the stock "encounters some selling", it immediately gets into the downward movement, it goes through Fibonaachi Retracement, generally 35% or 50%!.
GSFI exactly did 50% Retracement, selling stopped and watch for a slight bounce and then resuming Rally towards pennies!. ...If you are a Long, there is nothing to worry.....!. Tomorrows break from this two session "Nasty RED" into "GREEN" will be quite interesting.
Check for my target prices from previous posts, they are all intact and will be achieved soon!!
Different Levels or % of Fib Retracement: from INvestopedia:
The Fibonacci retracement levels are 23.6%, 38.2%, 61.8%, and 78.6%. While not officially a Fibonacci ratio, 50% is also used
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