The Greedy Trader Weekly Analysis
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Technical Stock Screener - Fibonacci Retracement

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23.6% Fibonacci Retracement
70 50 41 35 38
38.2% Fibonacci Retracement
34 36 28 22 22
50% Fibonacci Retracement
12 16 11 13 19
61.8% Fibonacci Retracement
8 8 7 10 18

Fibonacci Retracement

Fibonacci Retracement Trading Fibonacci Retracement is a popular trading technique that is based on a sequence of numbers called Fibonacci numbers. These numbers were introduced to the West by the Italian mathematician Fibonacci in the 13th century. The technique suggests that the ratio between two consecutive market price waves tends to be close to the ratios of 23.6%, 38.2%, 50%, 61.8%, and 100% between the Fibonacci numbers. Fibonacci Retracement ratios indicate potential support and resistance levels and predict the pullback retracement level. It allows traders to set a trade target price and stop-loss orders. Fibonacci Retracement technique works better when used in combination with other technical analysis indicators and chart patterns.

Warning: presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.