Engex (AMEX: EGX) (AMEX:EGX) Stock Research Trends Targets and Technical Analysis - AMEX American exchange [en]

Today we will analyze the stock Engex (EGX) for internet stock trading in the AMEX stock market,
Stock Technical indicators to notice in Engex (EGX)
1- Last bullish trend was from 2.76 $ (2/25/2010) to 3.18 $ (3/5/2010) a 0.42 $ move 2- The current bearish trend started from 3.18 $ at 3/5/2010 and is currently trading at 3.05 $. 3- EGX current support level is at 3.02 which is the 38.20 % fibonacci retracement of the last 0.42 $ move.
4- EGX current resistance level is at 3.08 which is the 23.60 % fibonacci retracement of the last 0.42 $ move.
5- According to ADX Indicator, the trend is currently strong bearish, which is getting stronger.furthermore, the ADX indicator location between DMI+ and DMI- is hinting on a strong move ahead. the stock is very volatile at this point.
Engex (EGX) Short term stock chart patterns for internet stock trading :

6- The Stock was supported by a support line, identified by two points: 2.760 and 2.650, and is currently supporting at 2.812.
Engex (EGX) Mid term stock chart patterns for internet stock trading :

7- The Stock formed a 0.550 $ height triangle which was broken up at 3.050 in higher than usual volume, target of the pattern is 3.600.
Engex (EGX) Long term stock chart patterns for internet stock trading :

8- The Stock was supported by a support line, identified by two points: 2.650 and 2.590, and is currently supporting at 2.738.

Stock Trading Conclusion:
Engex (EGX) was trading in a strong bearish wave, which is becoming stronger .
Technical indicators and stock chart patterns show highly volatile movements favoriting bullish direction,
recommend stopping short positions or entering long position or bullish spread options strategy in online trading , because of the high expected future volatility, consider constructing symmetrical options strategies for buying volatility through strangles or straddles in online trading. .

Stock Resistance Levels : 3.08, 3.08, 3.10, 3.12, 3.13, 3.18, 3.60.
Stock Support levels : 3.02, 2.97, 2.92, 2.90, 2.81, 2.76, 2.74, 2.65,.