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Re: chessmaster315 post# 76654

Tuesday, 02/12/2013 9:35:26 AM

Tuesday, February 12, 2013 9:35:26 AM

Post# of 238141
Been using Fib's daily for 17 years. Beautiful thing.

Which high/low points are you using in your example?

Fibonocci Retracements:
In case you did not know, many things in nature are explained by Fibonocci ratios. From everything such as how a tree grows branches to the ratios of your belly button to the floor, are fibonocci ratios. Stocks tend to follow these ratios, also.
For MJNA, the key ratio is 61.8% which was breached yesterday. The next ratio is 78.6% and is more of a "roost" for the nite, with the big one at 100%, or the recent .50 high.
These signs are bullish, unless the stock retreats this morning below .40