Forwardly Inc (FORW)

[ASP401]

During this period of consolidation, though to add some more statistical perspectives:

I am sure you guys would have heard about fibonnaci retracement levels of 23.6%, 38.2%, 50% and 61.8%. Note that these retarcement levels represent the % of the cumulative gain from the last trend bottom (in our case 0.0019) to the current trend top (0.0169). If we calculate these fibonnaci retracement supports, they end up being 0.0055 (previous high consolidated for sometime), 0.0076 (another previous high consolidated for sometime), 0.0095 (another previous high consolidated for sometime) and 0.0112 (level from which this blasted to 0.0169 on Oct 23).

Assuming the uptrend continues, and estimating next fibonnaci levels based on back calculation we end up with 0.0095 (previous high at the 23.6% level), 0.0141 (another high which is now a resistance at the 38.2%), 0.018 at the 50% level (which is interestingly 0.006 previous low multiplied by 3), 0.0236 at the 61.8% level. Based on all calculations, 0.0341 could be the next high corresponding to current 0.0169.

It will be intersting if this theory based on fibonnaci's pans out..GLTA..