WKT - Chart, page-344

I'm new to TA and trading/investing learning as I go, Usually after purchasing a stock on FA and sentiment ill keep close eye on the charts to try see market direction. I do see the power of charting for determine entry points as I bought high (no TA) into my first ever trade last month but was lucky to get out with profit due to good fundamentals.

in relation to the Fibonacci charts posted here I was watching a video on YouTube explaining using Fibonacci charts for buy signals and the importance of the 50% level was stressed, it suggested that while price action hits a fib level above 50% Fib trend is still bullish, below 50% fib bearish.

So would maintained support at the 0.382 fib level 0.255c signal continuation of bullish trend and a close below 50% fib 0.23c indicate possible bearish reversal?