The Fibonaccis For Real Estate ETF

By Tim Knight of Slope Of Hope

Managing Partner at Tim Knight Organization • Aug 25, 2024 at 2:47 PM EDT

Fibonaccis are cool, but they only seem to work with a handful of financial instruments. In my estimation, one of the most “obedient” financial instruments with respect to Fibonacci retracements is the IYR, the real estate ETF.

red blocks on brown wooden table

Image Source: Unsplash

Fibonaccis are cool, but they only seem to work with a handful of financial instruments. It tends to be a hit-and-miss game to figure out which these are. In my estimation, one of the most “obedient” financial instruments with respect to Fibonacci retracements is the IYR, the real estate ETF.

We have seen these lines provide potent levels of support and resistance for literally years at this point. The most recent occurred on Friday, when it blasted right up to its 78.6% level, which it hasn’t visited in 27 months.

More By This Author:

I’ll Be Your Server
The Relative Weakness
Inside Day For Tech

I tilt to the bearish side. Slope of Hope is not, and has never been, a provider of investment advice. So I take absolutely no responsibility for the losses – – or any credit for the gains – – you may or may not make from reading this forum. Whether you lose your life savings or make a fortune is entirely up to you and your own skills/luck/fate.

STOCKS IN THIS ARTICLE

Comments

Back to all articles