$DNA
Added 2023-11-03 16:58:43 +0000 UTCAnother big day for $DNA, up 9% now and this has been a very strong bounce from $1.29 to $1.70 today.
It is absolutely vital that you understand how Fib levels work, whatever your opinion on EW Theory, Fib levels are used by almost all technical analysis and not just people who use EWT.
Fib levels show you where support can be, the lower the support goes, the weaker the structure but it will show you the levels which can offer support and keep the bull scenario alive.
This has been clear here, when $DNA lost the 0.618 Fib, we watched for a lower support.....it came down to the 0.88 Fib, which is the last Fib support and showed strength and bounced.
Price is now at the 200 Day MA, it needs to flip this level to support next and this will be a good sign of a reversal, this may not come until next week and a pull back first.
