Fibonacci retracements are valuable technical analysis tools that enable an investor to sniff out a stock's possible support or resistance areas.

One Simple Goal: Intraday Profits. Dynamite Day Trading Signals delivers two same-day options trades every week — powered by proprietary intraday analysis and 43+ years of trading expertise.

Per Investopedia, a Fibonacci retracement is “is a term used in technical analysis that refers to areas of support (stops going lower) or resistance (stops going higher). Fibonacci retracement ...

What Is Fibonacci Retracement and How to Use it Fibonacci retracement is a technical analysis tool used to identify potential levels of support and resistance during a price pullback.