Buffalo Burgers stock increased from $14 a share to $19 a share. Based on phi, what are the primary and secondary support areas for this stock?

Question

Quizplus · Accepted Answer

Phi suggests that the primary support level would be at 15.91 (19 - 0.618 * (19 - 14)) and the secondary support level would be at 17.09 (19 - 0.382 * (19 - 14)). Therefore, the best choice is B, as it is the only option that includes both of these support levels.

Buffalo Burgers Stock Increased from $14 a Share to $19