Disclaimer on,
This is a personal opinion, I am not responsible on your trading results.
Trade with your own risk.
The movement of
UNVR
stocks in the weekly time frame seems to have started to form a Higher Low after previously successfully forming a Higher High. The occurrence of the Higher Low coincided with the Fibonacci Retracement ratio of 0.618 and was accompanied by the Stochastic Oscillator indicator which began to move upwards to form a golden cross.
If this rebound is successful, then at least the level to be reached as the price target is at the level of 6040. This level is based on the pattern AB=CD, Fibonacci Retracement ratio 1.618 and EMA 90 which are in adjacent ranges.
The second possible price target is at the 7150 level which is the cluster area of the classic resistance, the 2.618 Fibonacci Retracement ratio, and the 1.618 Fibonacci Extension ratio.
This is a personal opinion, I am not responsible on your trading results.
Trade with your own risk.
The movement of
UNVR
stocks in the weekly time frame seems to have started to form a Higher Low after previously successfully forming a Higher High. The occurrence of the Higher Low coincided with the Fibonacci Retracement ratio of 0.618 and was accompanied by the Stochastic Oscillator indicator which began to move upwards to form a golden cross. If this rebound is successful, then at least the level to be reached as the price target is at the level of 6040. This level is based on the pattern AB=CD, Fibonacci Retracement ratio 1.618 and EMA 90 which are in adjacent ranges.
The second possible price target is at the 7150 level which is the cluster area of the classic resistance, the 2.618 Fibonacci Retracement ratio, and the 1.618 Fibonacci Extension ratio.