MA is climbing up the ladder with 61.8% retrace on each step

Looks like MA is going down to its support slope where the Kijun Sen line is also waiting at 0.017 This stock has been following a ladder with 61.8% Fibonacci Retracement on every dip. So from the higher low of 0.0140 to the higher high of 0.022, our projected retrace will be at 0.017 per share unless the Senkou Span B will support the price not to go down any further and prematurely bounce but I think, for MA to have a healthy rally, it should follow the previous retrace of 61.8%


The following two tabs change content below.


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.

Leave a Reply