Enjoying the charts. I thought I would post mine which is taking...

Enjoying the charts. I thought I would post mine which is taking a longer term view of the big picture.

I have been looking at the Fibs on this chart and especially the 50% retracement point. It is interesting that from the major high, if you take $1.63 as being the major 50% retracement point (which is quite reasonable) it coincides with 55 cents being the major low.

Also, from the major high there were 204 trading days to the major 50% retracement point. Add another 202 trading days from that point and it sits on the major low.

In technical analysis I see this as a true turning point for the price since if it holds that support I am of the view that the trend may have changed. However, if it dips below 55 cents I would probably want to have a tight stop loss if I was trading it.

As an aside, I find the theory interesting that if you can extrapolate the major 50% retracement point then you can find a point which may be the major low and a possible entry point to go long if it has enough support or a point to get out from the 50% retracement point if shorting. Of course stop losses are always a priority as well if doing this strategy.

DYOR.