WELL approaching resistance, potential drop! WELL is approaching our first resistance where we might see a reversal in price to our first support level. Stochastic is also approaching resistance.
Wellshort
WELL approaching resistance, potential drop! WELL is approaching resistance at 77.41 (horizontal swing high resistance, 100% fibonacci extension, 78.6% fibonacci retracement) and a strong drop might occur to our first support at 67.50 (horizontal overlap support, 61.8% fibonacci retracement).
Stochastic (55,5,3) is also approaching resistance.
WELL Approaching Resistance, Potential Drop! WELL is approaching our first resistance at 72.13 (78.6% Fibonacci retracement, 61.8% Fibonacci extension) where a strong drop might occur below this level pushing price down to our major support at 67.34 (100% Fibonacci extension, 50% Fibonacci retracement).
Stochastics (89,5,3) is also approaching resistance where we might see a corresponding drop in price.
