Don't Ignore This Chart

Finisar Consolidates at Key Retracement $FNSR

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Finisar (FNSR) plunged with a move from 23.50 to 18, but found support right at the 61.80% retracement line, which is based on a Fibonacci number. Even though the stock has yet to recover, it is consolidating with clear support and resistance levels to watch going forward.

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Arthur Hill
About the author: , CMT, is a Senior Technical Analyst at StockCharts.com. He has written articles for numerous financial publications including Barrons and Stocks & Commodities magazine. Focusing predominantly on US equities and ETFs, his systematic approach of identifying trend, finding signals within the trend, and setting key price levels has made him an esteemed technician. In addition to his CMT designation, Arthur holds an MBA from the Cass Business School at City University in London. Learn More
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