Fibonacci Numbers are commonly used in Technical Analysis with or without a knowledge of Elliot Wave Analysis to determine potential support, resistance, and price objectives.
The most popular FibonacciRetracements are 61.8% and 38.2%
61.8% retracements imply a new trend is establishing itself.
38.2% retracements usually imply that the prior trend will continue
38.2% retracements are considered natural retracements in a healthy trend.
Fibonacci Retracements can be applied after a decline to forecast the length of a counter-trend bounce.
The 50% retracement is not based on a Fibonacci number. Instead, this number stems from Dow Theory's assertion that the Averages often retrace half their prior move.
Next week this guy Doug Disanti is taking over UNRG to place his merging company in here...$UNRG will be next IIPR, a Real Estate/Cannabis REIT, Doug DisantI said it himself we will become the Powerhouse in cannabis REIT. This is way bigger than ever before!
UNRG is going through Takeover-Merger process, The Principals coming in have proven Medical Marijuana Success, Douglas Disanti CEO Green Leaf Investment Fund, Inc (GLIF). and Mauricio Sernande III owners of Neon Bloom Inc. and GrassRoots Advisory, LLC. They have targeted the public Vehicle UNRG with which to merge with. UNRG is attractive to them for many reasons, Its a clean Shell with no Legacy debt, $23Mil NOL(net loss carry)to help offset a high income producing entity, Share Structure which is perfect for quick up-listing and its an efficient way to enter the public arena. We feel that UNRG is the next Discovery Gold aka DCGD, starting at .05 2 months ago now trading at $1.60, except UNRG has much smaller share structure which means it can make bigger gains more rapidly.
Douglas DiSanti, CEO of Green Leaf Investment Fund, said, "Today's IPO markets are clearly broken and only favoring those with the right connections or individuals with large net worths. The SEC has completely changed the game through its recent mandate under Reg. A+, which allows emerging companies to raise funds and allow every day investors to participate in a pre IPO offering." DiSanti continued, "Monster Beverage, Quicksilver and General Growth Partners, to name a few, started out as penny stocks and are now some of the largest companies in their sector."