This is the last in our series 5-days of fib where we cover fib levels for many popular stocks. Since we started at the beginning of the alphabet, its only fitting that we start with end in this wrap-up post.
We start with real estate giant Zillow. Considering this company still hasn't earned a profit, the stock has been a success rising to a new all-time high this past week after an IPO at $40 back in 2011.
Regarding fib lines, you may ask, do the lines provide an actual usable information when trading? I can tell you that they do here's how. This past week, I was fortunate to get long the Jun 21 100 calls at about on 6/10 at about 18.60. 2 days later we had a major breakout and the stock shot up to all-time high territory at about 124. As this point, confidence was high, the position was well in the money. But noticing major voodoo resistance, I sold the option at 24.00 on a spike up to resistance. It wasn't the high of the move, but it clearly formed an area of resistance. Like magic the stock sold off from those levels and found some support in the low 120's.
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhBHqzXMcdkcMSPWLN9gxpZfXVt3NqCtgoTxqiXGuzfBV0LwGFhkFRzCoCt9rT4_81cq8L1ufWoTBHx77CAlxQPr58jk_nisaq4gjuV7A4oB9alPAtz6EaRaOd1PmuGPtT3oB8WN-ovLEuJ/s1600/voodoo-levels-Z.png)
Next and last up on our 5 days of voodoo series is restaurant review site YELP. Cramer calls this company the 'holy trinity' of tech - social/mobile/cloud. Unlike Zillow, I don't use the service myself, but the stock took a major pop this past week when travel giant PCLN announced it would acquire restaurant reservation company Open Table (OPEN). I don't use that service either, but I was long YELP and made some money on the pop in the stock.
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgWKZDYO3-LF9Q6vuJkOrmFaK6HVjnoZlL0aJmFW6GzqRHw8xTVh-ul_LLNzUVgNGG3DF6ofcyL-EvMSk-CeKV8dx-NwW310pzBGOLFQfHwW5eERBAqGyAsUvEsgXRbTxh3qNpkPRx7t5qf/s1600/Yelp-Voodoo-levels.png)
Looking back at the fib series in retrospect, I didn't even get to the major indices, DIA, QQQ, SPY and IWM. I expect to cover those in a future post.
Happy Father's day to all the dad's out there and enjoy your day and the rest of the weekend. And have a great trading week ahead.
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