Fibonacci Retracements for JNPR

Juniper Networks almost doubles in price from March to June until the stock finally gives back some of the price gains.

From the $15 high, JNPR drops down to the $12 level. Notice that the stock gapped down to that price level (where the pointed "hand" is). From there it quickly recovered the lost price gains and made a new high.

Here's the interesting point: after the newest high, JNPR again retraces and hits a Fibonacci retracement level. This time at the 62% level of the most recent price upswing. The stock hesitates at that price level before zooming higher.

This is exactly why it pays to know a stock's history so you can spot similar opportunities in the future.

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