Post by
cleareye on Mar 05, 2021 6:55pm
Fascinated with Fibonacci Retracements.
IPA has a 61.8% Fibonacci Retracement, from the low on November 9th to the high on December 29th, of $14.71.
(All figures and chart in Canadian Dollars.)
Isn't it interesting that the stock dipped through a previous gap, and then returned and closed at exactly $C 14.71.
I find that fascinating.
Of course their is a gap at $12.08, and a 78.6% Fibonacci Retracement level of $C11.54, but it's Friday night and we don't have to talk about that. I am comfortable that we have seen the low on this current cycle.
If I were good at Elliot Wave Theory then I might be able to predict the next high. My current Elliot Wave Theory analysis (which is highly shaky and suspect) would lead me to think that we're heading to: $C33.94.
I enjoy these numbers and I wish I were good at this sort of analysis.
As it is, I can only say, "IPA, you dip very well".
cleareye.
Comment by
Gummbah on Mar 17, 2021 12:40pm
I am afraid you were a bit wrong 'Cleareye'