Bull Flag Pattern; Fibonnaci Retracement at 50%
Updated
I noticed a bull flag continuation pattern and Fibonacci Retracement level at 50%. For risky traders, this may be a good time to go long. For risk-averse traders look for long body candles to break above resistance. If I see long wicks breakthrough resistance I won't enter the trade long. Of course, the stock may break below the current support level. At that point just abandon ship or see if new support level develope at 61.8% retracement.
From a fundamental perspective, this stock is undervalued by approximately $1 per share.
From a fundamental perspective, this stock is undervalued by approximately $1 per share.
Comment
Well, it appears that the stock closed right on the 61.8% retracement level exactly. We'll see if that holds tomorrow and into next week.
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