A newer stock (2015) PSTG (Pure Storage, Inc.) has rejected the $9.7x support line for the fourth time and drove higher off of heavy volume on 5/26/2017. Based on the FibR Levels on the daily timeframe, Friday’s close of $12.74 was almost too perfect, reaching the .618% FibR Levels. With a .786 FibR Level of $13.71 and a resistance level of $14.90, there is still room for this stock to run.
If volume continues to be above average on the bullish side the week of 5/30/2017, expect a break of the .618 FibR Levels. When looking at the MACD Levels, both the weekly and daily have crossed over. Bullish volume on the monthly time frame has doubled since April 2017.
If volume continues to be above average on the bullish side the week of 5/30/2017, expect a break of the .618 FibR Levels. When looking at the MACD Levels, both the weekly and daily have crossed over. Bullish volume on the monthly time frame has doubled since April 2017.