marketinsider

VRTU To Jump 15% Off Bullish Flag

Long
NASDAQ:VRTU   None
VRTU is breaching upper flag resistance. We want to be long above $37.5 with a target of $43.

Comments

How do you do the Fibonacci for target price?
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@Turpan, depends on prior price action. If a stock had a prior high, then we use the Fibonacci Retracement tool. Simply measure the distance between the prior high and the most recent low, and take 61.8% of the move (there are multiple levels you can use, but that is the most significant). When a stock is putting in new all-time highs, a Fibonacci Extension is used. Measure the most recent low with the most recent support/resistance level. Your price target should be 161.8% of that move. Hope this helps!
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Turpan marketinsider
@marketinsider, I see , thanks ;-)
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