Hot Penny Stocks with Fibonacci? -- MCLN

These are potential buy targets.

I used an hourly chart at the bottom of the consolidation to start my fibonacci, but in order to see how effective fibonacci is, one would need to observe the 1min or 5min chart.

I find most OTCs will retrace to 61.8, but the better ones will only retrace 50%. For now, I'll look between .02 and .03. Once it leaves that range, a trader would wish he bought anywhere under .03, so generally its safer to pick a range of fibonacci.

My sell targets:

From here I rounded out the .02 and .03 buy target with about .025 or so. Start at the most recent low (the low it just put in) and end it with its most recent high. this will give you targets to sell. I'll adjust the levels once its put in its low and see how it reacts with it.

here's a chart of MCLN.
fibonacci isn't necessarily for investing. I feel fibonacci is mostly used by retail, and who do you think are pushing these penny stocks? Retail! So, fibonacci is a must in my opinion, when trading otc and other penny stocks.

And there you go, MCLN, hot and ready