A stock recently increased in price from 24 to 45 Using wha

A stock recently increased in price from $24 to $45. Using ?, what is the primary support area for the stock? (Do not round intermediate calculations. Round your answers to 2 decimal places.)

Solution

Primary Support = P1 - [(P1 - P0)(0.382)]

= $45 - [($45 - $24)(0.382)]

= $45 - $8.022 = $36.978, or $36.98