Is 38.2% Fibonacci Retracement level the strong support for GERI?

Previously thought that 23.6% Fibonacci Retracement level is a Strong support for GERI but after that day we saw GERI move down continuously. Now it is in the hands of the 38.2% Fibonacci Retracement level. So far we don’t see any reversal pattern but it is good to monitor this tomorrow and get a clue from the candlestick as to where it will continue.

RSI or Relative Strength Index is currently at 56.

Caveat!

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felix

A computer engineer by profession and loves to develop online systems/websites. A self-taught stock trader who loves to share his knowledge and enjoys learning, expanding knowledge and staying well-informed. Most often he uses candlesticks, Fibonacci Retracement levels, Ichimoku system on his technical analysis but loves to hear some rumors as well.

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