Keep Watch - Wait till Orange trend line is tested and then buy
Look at the image. How beautifully the fibonacii retracement is respected.
Also the Orange trendline was acting as resistence line and teste3d 3 times before it was crossed.
As per Technical Analysis, this Orange line must become Support line now. So once the Orange line is tested for support and price movement change direction , Buy the stock.
Remember, If the Orange line is crossed and price drops below then it will gow down a lot. But if it acts as Support then price movement will go up sop much depending on the Fib levels.
Also the Orange trendline was acting as resistence line and teste3d 3 times before it was crossed.
As per Technical Analysis, this Orange line must become Support line now. So once the Orange line is tested for support and price movement change direction , Buy the stock.
Remember, If the Orange line is crossed and price drops below then it will gow down a lot. But if it acts as Support then price movement will go up sop much depending on the Fib levels.
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