Cow Moo-ney
commented on a stock · Aug 18, 2022 10:06
Resistance and Support (SPY)
Resistance: 429 for 200 moving average and 433 for the 61.8 Fibonacci level. I am expecting sellers to step in at either of these levels.
Support: 50% Fibonacci level at 419 should offer some form of support. That said, to highlight, there is a gap between 412 to 416, so don’t be surprised if SPY moves downwards to fill it.
bubbleberrygum : what is the meaning of 61.8? tq
Cow Moo-ney OP bubbleberrygum : Fibonacci retracement level . See screenshot below
bubbleberrygum Cow Moo-ney OP : thank youu