Powerlock International Corp. (PWLK)

[trader53]

$PWLK 0.0002 Chart

Educational Post:

Use of Fibonacci #'s in Technical Analysis

Fibonacci numbers are commonly used in Technical Analysis,
to determine potential support, resistance, and price objectives.

61.8% retracements:
imply a new trend is establishing itself.

50% retracement:
implies indecision.

38.2% retracements:
usually imply that the prior trend will continue,
and are considered neutral retracements,
in a healthy trend.

http://www.stockta.com/cgi-bin/school.pl

Fibonacci Retracement
Percentage Levels
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=77145842




PWLK Charts
http://stockcharts.com/h-sc/ui?s=PWLK&p=D&yr=3&mn=0&dy=0&id=p24672197290

$Working from the "Price Pivot High" of 0.0015 <-------
that was set in February 2011,
the below stated targets,
were reasonable to expect.

Retracement "Fibonacci" levels to look for as Targets were:

> 100 % = 0.0015
> 61.8% = 0.0009
> 50 % = 0.00075
> 47 % = 0.0007 <---Was Hit in Dec. 2012 !!
> 38.2% = 0.0005 <--- Was Hit !!