I sold some Starbucks.
It gapped up, yes.
But here it stopped. It made a classical Fibonacci retracement until 61,8 % and looks like it will end the day at 50 % .
The previous 4 days where at a high trading volume and todays high volume may be counted like a volume retracement as well, i.e. todays price retracement less than half of the sales of the past days. There is no new buying.
It gapped up, yes.
But here it stopped. It made a classical Fibonacci retracement until 61,8 % and looks like it will end the day at 50 % .
The previous 4 days where at a high trading volume and todays high volume may be counted like a volume retracement as well, i.e. todays price retracement less than half of the sales of the past days. There is no new buying.