On this daily chart we can clearly see triple test of the monthly Resistance #3. Currently, the price is moving sideways between the resistance and support, which is provided by 23.6% Fibonacci Retracement.
Now, this setup provides us a great opportunity to buy this stock at retracements, which will use MA/38.2% Fibonacci Retracement/Fibonacci’s trend line/50% Fibonacci Retracement/Resistance #2. If the price will fall below 50% - it will indicate that the trend has changed.
Now, we can wait and see where the price will go in the nearest future.
Now, this setup provides us a great opportunity to buy this stock at retracements, which will use MA/38.2% Fibonacci Retracement/Fibonacci’s trend line/50% Fibonacci Retracement/Resistance #2. If the price will fall below 50% - it will indicate that the trend has changed.
Now, we can wait and see where the price will go in the nearest future.