Anacor Pharmaceuticals (ANAC) revisits 1.618 Fib level

We last caught up with ANAC on 4.19.15 just after it completed a 1.618 Measured Move. The chart from that post is below:

Traders of ANAC seem to be devotees of Leonardo Bonacci the Italian mathematician known as Fibonacci. In the last post they had ran prices up forming the Golden Ratio, a measured move 1.618 times the length of the last protracted move up. Since 4.19.15 ANAC has retraced down to the red horizontal line on the chart below. The red line indicates a measured move of 1 times the length of that last protracted move up. Price then consolidated for a couple days before renewed momentum pushed ANAC beyond the 1.618 Fibonacci level, which for now is acting as support.

1.618 in nature

1.618 in Jessica Simpson's face

1.618 in Tool's Lateralus