The price of a stock increased from $32 to $38. Using phi, what are the primary and secondary support areas for the stock?

Name: The price of a stock increased from $32 to $38. Using phi, what are the primary and secondary support areas for the stock?
Brand: Quizplus
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Question

Quizplus · Accepted Answer

The primary and secondary support areas are calculated using the Fibonacci retracement levels. The primary support is at 61.8% retracement ($35.71) and the secondary support is at 38.2% retracement ($34.29) from the high of $38.

The Price of a Stock Increased from $32 to $38