Tecnologia_Financiera

Fibonacci on Electronic Arts

NASDAQ:EA   ELECTRONIC ARTS INC
We placed a Fibonacci sequence on Electronic Arts Inc . and as seen in the graph, two positions could be taken depending on the movement of the price.

If the price breaks upwards the yellow line, a Long position can be placed around 105.59 $ per share, the Take Profit around 112.67 before the next support line (Green line) and Stop Loss below the yellow line as a support at approximately 100.90.
Risk/Reward ratio 1.52.

On the other hand, if the price continues upwards and then plunges back down a short position can be taken around 102.05. The Take Profit at 93.29 before the red support line and Stop Loss after the top yellow line around 106.15.
Risk/Reward ratio 2.14.
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