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.
because they have to Cover their "Short Positions" !
* They lose money as the stock climbs !
* Your Buying, Forces them to Buy,
and their Buying, causes the stock to Climb Higher !
Slap-the-Ask and Your stock will Climb FAST !
The possibility of a "Short Squeeze"
Short Squeeze - What it is:
A short squeeze occurs when the stock's price doesn't decline as anticipated.
A short squeeze is a situation in which a stock's price increase triggers a rush of buying activity among short sellers.
Short sellers must buy stock to close out their short positions and cut their losses, which results in a further increase in stock prices, which compel still more short sellers to cover their positions.
The possibility of a "short squeeze" is one reason some analysts look at a high amount of short interest as a Bullish Indicator.
Short Interest is the fuel, performance is the fuse, says ShortSqueeze.com
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