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Technology Stocks : Shiva
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To: damniseedemons who wrote (36)5/6/1996 7:43:00 PM
From: olduser   of 5036
 
Fibonacci method.

Have you ever looked at this method, I've found that it is a pretty good indicator of where the stock will fall back to after a big run up. This method can be found using the Bloomberg (i.e. SHVA <EQUITY> GPF) If you're not a Bloomer, the method in a nutshell: Given any time period (usually 1yr graph) take the high say $11/shr and the low say $1, then the significant levels would be 62%, 50%, and 38% of the range between the top and the bottom, in this case it would the 38% level would be at $7.25 ($11 - $3.8). If this makes any sence let me know and I'll try to explain further.

I've found that many stocks retrace to these levels and hold before resuming to old highs or drop to the next important Fib level.

JJ
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