Stock Technical indicators to notice in Emerging Markets Telecommunications Fund (the) (ETF)
1- Last bullish trend was from 16.94 $ (8/11/2010) to 17.46 $ (8/18/2010) a 0.52 $ move 2- The current bearish trend started from 17.46 $ at 8/18/2010 and is currently trading at 17.27 $.
4- ETF current resistance level is at 17.34 which is the 23.60 % fibonacci retracement of the last 0.52 $ move.
5- According to ADX Indicator, the trend is currently bullish,which is becoming weaker.
Emerging Markets Telecommunications Fund (the) (ETF) Short term stock chart patterns for internet stock trading :
6- The Stock formed Double Top Pattern at 17.460 .
7- The Stock formed a 2.220 $ height triangle which was broken down at 17.260, target of the pattern is 15.040.
Emerging Markets Telecommunications Fund (the) (ETF) Mid term stock chart patterns for internet stock trading :
8- The Stock traded in a bearish stock channel identifed by support at 14.460 and 15.270,resistance between 16.230 and 17.430 which was broken up at 15.010 in higher than usual volume.
Emerging Markets Telecommunications Fund (the) (ETF) Long term stock chart patterns for internet stock trading :
9- The Stock was resisted by a resistance line, identified by two points: 17.430 and 17.980 that was broken up at 17.270 transforming into a supporting line.
Stock Trading Conclusion:
Emerging Markets Telecommunications Fund (the) (ETF) was trading in a bullish wave, which is becoming weaker .
Technical indicators and stock chart patterns show bearish direction,
recommend hedging long positions or entering short position or bearish spread options strategy in online trading .
Stock Resistance Levels : 17.31, 17.34, 17.34, 17.36, 17.39, 17.42, 17.46, 17.78.
Stock Support levels : 17.26, 17.20, 17.14, 16.99, 16.94, 16.80, 16.62, 15.04,.
