IJM Plantation Weekly Chart at 38% Fibonacci Retracement Level

Have you use the Fibonacci Retracement before? How to do it? Here I just attached what I have done with the chart using Fibonacci Retracement.

IJM Plantation on the Weekly Chart

On the IJM Plantation weekly chart above, you can see that IJM Plantation was supported at Fibonacci Retracement 38% level. Fibonacci Retracement can be used to determine support at the uptrend and resistance during downtrend. For this case, we are using Fibonacci Retracement 38% for support level. From the chart we can see that the stock really bounced when it touch the support level.

Currently I don't do trading because of the global weak market. Anyway, I have to continue learning as long as it will give me gain knowledge more and more.

Happy learning and happy trading!