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The resistance is identified as the 38.2 percent Fibonacci projection level of an upward wave C, the third wave of a three-wave cycle from the Aug. 24 low of $42.23.
The next resistance will be at $52.98, the 50 percent projection level, a break above which could lead to a gain to the 61.8 percent level at $54.40. A correction from the current level may be limited to $51.55, now a support.