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Fibonacci for beginners

  1. oliveoyl

    4,788 Posts.

    Thought I'd fool around with Fib (too windy outside)

    Just take cst for example:

    Using the Monsignor Fibonarchy Formula of A - (A x F) where 'A' is the highest price and
    'F' is the relevant Fib Factor (.38, .50, .62)

    High 320 Oct 01
    1st retrace 280 Nov 01
    2nd retrace 160 Jan 02
    3rd retrace 122 April 02

    looking forward if you factor in 'x' as $4.50 (Lodge Partners recommendation) being the next high then levels from that will be 171,
    225, 279.

    Note that $1.71 has just been visited, trying hard for $2.20. So it could be assumed that the market for CST now looking forward to AGM 2003 not back at the float.

    Another version is to use the Fib Factor where the difference between the rally price & normal price x Fib factor then subtracted from rally price to give retracement. So CST issue price 025 rally to 320 gives levels of 208, 173, 137 (which pretty much is xmas/may 02)

    Scary huh?

    When's halloween?

    Is this what they mean by 'well behaved'?

    ps forrest made me do it

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