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Looking through the charts this weekend PIZ has caught my eye.
On Friday the stock bounced off of resistance after breaking out from the recent consolidation and pulling back for a test.
The chart displays some interesting multiple fibonacci retracements (sorry I can't display them) but I have found the following:
23.6% retracement of the rally from 620p to the recent high
76.4% retracement of the rally from 830p to the recent high.
These levels are less common that the 38%, 62% and 50% levels that occur more frequently but form the next harmonic up.
There is also support from the 120 day ma.
On Friday the stock bounced off of resistance after breaking out from the recent consolidation and pulling back for a test.
The chart displays some interesting multiple fibonacci retracements (sorry I can't display them) but I have found the following:
23.6% retracement of the rally from 620p to the recent high
76.4% retracement of the rally from 830p to the recent high.
These levels are less common that the 38%, 62% and 50% levels that occur more frequently but form the next harmonic up.
There is also support from the 120 day ma.
