Triple resistance and %R crossdown
Stock popped a couple percent even after missing earnings estimate this morning, which put the price above the 100DMA for a little while.
It looks like Williams %R is about to cross back down from the overbought zone and there are 3 resistance indications meeting at this time:
100DMA
Fibonacci retracement (0.618)
Fibonacci fan (0.382)
I set the target and stops hovering around the fibonnaci retracement lines, I'll be paying attention to the moving averages and if they appear to show support (such as the 50DMA) I may tighten the stop to protect a sliver of profit.
It looks like Williams %R is about to cross back down from the overbought zone and there are 3 resistance indications meeting at this time:
100DMA
Fibonacci retracement (0.618)
Fibonacci fan (0.382)
I set the target and stops hovering around the fibonnaci retracement lines, I'll be paying attention to the moving averages and if they appear to show support (such as the 50DMA) I may tighten the stop to protect a sliver of profit.
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