Not quite yet. More important than the Fibonacci numbers now (see gray lines on chat below) is whether or not the price is Overbought or Oversold based upon the OB/OS indicators also seen on the chart. At present, the price correction appears to be just getting underway. The Fibonacci guidelines for where support should be are:
38% - $4.91 50% - $4.32 68% - $3.72
Other possible places for the price to find support and consolidate are the 50 and 84 day moving averages (currently at $3.23 to $3.11 respectively but, these are moving targets) and the 200 day MA. To know where the market actually does find support, you should pay close attention to the Stochastics, %R, ULT, RSI and the MACD as well as the price itself.
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