Friday, March 18, 2016

Example of using Fibonacci calculator in RHT daily investment.

In this post, I have an example of using online [ Fibonacci calculator ] (bookmark the page for your own usage) along with a daily chart to invest in RHT.

In September 2015, RHT had a price correction with a zig-zag pattern of a-b-c at 67.01-74.37-68.36 USD. At point c, MACD was negative while both stochastic and RSI were oversold. A few days later 5-day simple moving average line crossed above that of 10 days. This confirmed a new uptrend. You could buy some RHT shares the next day at 70.06 USD. If you checked with the online [ Fibonacci calculator ] for the uptrend targets, you would see the numbers as in the table below.

The calculator showed a standard Fibonacci target of 161.8% at 80.27 USD. So you set a take-profit order in advance at 80.27 USD. After 49 days, your RHT shares would have been sold with a profit of 14.57%.

Simple is beautiful. Keep looking for an opportunity like the example given in this post. Do your homework! Too busy or lazy to do homework ? [Let the manager helps you.]

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