RE:RE:Moving against the downtrend VMD.T closed at 14.03 Friday March 24 and made a bottom of 12.53 March 29. Retracement values which are a given .382 .500 .618 . 764 and .786 can give target prices going back against the drop.
an example is 14.03-12.53=1.5
1.5x.500=.75
add this to the bottom of 12.53+.75=13.28
An online Fibonacci calculator will do this for you, there's an Uptrend and a Downtrend calculator be sure to use the correct one .
Generally if it goes past the first level it will test the next. 13.10 has been passed so now resistance is at 13.28
As you can tell my numbers are from the Canadian market but this will work in any market.