Fibonacci pps w/ volume parameters going forward...
Earlier today I posted the fib projections. I've now added the key volume parameters wh/ are vital if a C to D move is going to complete its projection. Here is a thorough projection of where the fibs stand & where they can go, along w/ the volume parameters. See the bolded sections below for the bottomline price projection.
we currently have 2 fib patterns forming. A smaller nearterm pattern & the larger macro pattern. I like to look at both to observe confluence, so as to try to pinpoint entry points.
When a stock is in a active mojo state, as I think this one is in now, I lean on the smaller fib patterns, esp since additionally this is an OTC stock, wh/ by nature makes it more volatile & inturn compresses the time patterns.
on the smaller fib pattern you have the following:
an A point of .05
a B point of .115 w/ apx. 150 million volume on feb. 11.
a C point of .086, which currently was a 44.6% retracement of that A to B movement. If it dips below that .086 price, a 50% retracement would take it back to .0825, & a 62% retracement would take it to .075 .
on this current retracement, as we stand now (C point being .086), a C to D, 1 to 1 move, would take the stock to .151, a 1 to 1.38 move would take it to .176, a 1 to 1.5 move would take it to .184, & a 1 to 1.618 would take it to .191. This is all predicated on the volume reaching 150 million or above on the day, or near it, when the stock goes thru the B point of feb. 11 at .115, on its C to D move.
on the larger fib pattern, to compare the 2 patterns for confluence, you have the following:
an A point of .012
a B point of .115 w/ apx. 150 million volume on feb. 11.
a C point with a 38% retracement would take the stock back to .076. A 50% retracement would take it back to .064, & a 62% retracement would take it back to .051.
on the 38% retracement of .076, a C to D, 1 to 1 move would take the stock to .176, a 1 to 1.38 move would take it to .218, a 1 to 1.5 move would take it to .231, & a 1 to 1.62 move would take it to .243.
on the 50% retracement of .064, a C to D, 1 to 1 move would take the stock to .167, a 1 to 1.38 move would take it to .206, a 1 to 1.5 move would take it to .219, & a 1 to 1.62 move would take it to .231.
on the 62% retracement of .051, a C to D, 1 to 1 move would take the stock to .154, a 1 to 1.38 move would take it to .193, a 1 to 1.5 move would take it to .205, & a 1 to 1.62 move would take it to .218.
*** in conclusion, I'm leaning on the smaller fib pattern above following thru on monday, w/ a C to D move off of the current .105 price, going between .151-.191.
However if it dips, and the price goes below the current small fib .086 C point, then look for .075 as the next entry point b/c confluence wise that would fall into agreement w/ the larger fib pattern of the 38% retracement at .076. .076 and .075 are very close to each other and compute fib wise on both patterns. That range will probably be the magic entry point if we have weakness monday morning.
Final important note to watch chart wise. the high volume swing point day of feb 23 had apx. 350 million. Since that day, that volume hasnt been beaten out. If we don't beat that out soon (in the next 1-3 weeks) then that days high price is vulnerable to be retested. That would bring the price back to .067
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