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.
* What matters in all OTC stocks, is that their stock price rises and falls.
* The price is what should be traded, and nothing else.
* Don't be concerned, with the stock being a "pump and dump". Buy before the pump, and sell before the dump.
* Don't be concerned about the Size of the Authorized Shares.
* OTC companies only have two things, stock for sale, and stories of progress.
* The OTC process, is to trade the stock sales, and react to retails belief in the stories.
* Message board discussion is not DD research. It's opinions on why they see value, and it's clutter that helps others make poor buy and hold decisions, based on value which doesn't ever exist.
* Trading "pennyland" stock is simple Buy some before the breakout starts, sell before the retrace starts, be glad to sell at some higher level than what you bought at, and then move on to the next one!
* "Trips" should not be held as long-term investments.
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