Let's see step by step analysis
First price action : Area arnd 58.75- 58.8 is a support where stock was able to form a base and today formed a good bullish candle with a vol spike
Fibonacci Cluster :
There are two Fibonacci retracements plotted. (1) By taking 53.55 as swing low & (2) By taking 42.1 as swing low. So 50% retracement of (1) is exactly coinciding with 23.6 % of (2).
And this coincidence is at the price range which we got with the help of price action. So a good buy can be initiated above 61.5 with 58.5 as Sl for the target of 67.7
First price action : Area arnd 58.75- 58.8 is a support where stock was able to form a base and today formed a good bullish candle with a vol spike
Fibonacci Cluster :
There are two Fibonacci retracements plotted. (1) By taking 53.55 as swing low & (2) By taking 42.1 as swing low. So 50% retracement of (1) is exactly coinciding with 23.6 % of (2).
And this coincidence is at the price range which we got with the help of price action. So a good buy can be initiated above 61.5 with 58.5 as Sl for the target of 67.7