A stock recently increased in price from 21 to 42 Using wha

A stock recently increased in price from $21 to $42. Using ?, what is the secondary support area for the stock? (Do not round intermediate calculations. Round your answers to 2 decimal places.)

Solution

Secondary support:

= $42-($42-$21)×0.618

= $42-$12.978

= $29.02

Hence, secondary support is $29.02