Technical indicators are supporting tool and it uses mathematical calculations based on Price, Volume, or Open interest of a security.
Price data includes any combination of the open, high, low or close over a period of time. Some indicators may use only the closing prices, while others incorporate volume and open interest into their formulas. The price data is entered into the formula and a data point is produced.
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Hi,
Answering to your question 1 :: How fibonacci are used in stock?
To identify support and resistance zones:
For bearish reversal trend
Draw Horizontal Fib retracement lines from the bottom & top and considered to be 100% & 0% respectively. if the price reverses to 23.6% then there is support and if it breaks 23.6% then 38.2% & 50% are considered as other support zones.
Thanks you for your clarification….