Corriente Res Inc (AMEX: ETQ) (AMEX:ETQ) Stock Research Trends Targets and Technical Analysis - AMEX American exchange [en]

Today we will analyze the stock Corriente Res Inc (ETQ) for internet stock trading in the AMEX stock market,
Stock Technical indicators to notice in Corriente Res Inc (ETQ)
1- Last bearish trend was from 8.28 $ (1/14/2010) to 7.88 $ (2/8/2010) a 0.40 $ move 2- The current bullish trend started from 7.88 $ at 2/8/2010 and is currently trading at 8.29 $. 3- ETQ current support level is at 8.28 which is the 100.00 % fibonacci retracement of the last 0.40 $ move.
4- ETQ current resistance level is at 8.39 which is the 127.20 % fibonacci retracement of the last 0.40 $ move.
5- According to ADX Indicator, the trend is currently bullish, 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.
Corriente Res Inc (ETQ) Short term stock chart patterns for internet stock trading :

6- The Stock was supported by a support line, identified by two points: 7.880 and 5.770 that was broken down at 8.030 transforming into a resistance line.
Corriente Res Inc (ETQ) Mid term stock chart patterns for internet stock trading :

7- The Stock formed a 1.250 $ height triangle which was broken up at 6.250 in higher than usual volume, target of the pattern is 7.500.
Corriente Res Inc (ETQ) Long term stock chart patterns for internet stock trading :

8- The Stock formed a 1.250 $ height triangle which was broken up at 6.250 in higher than usual volume, target of the pattern is 7.500.

Stock Trading Conclusion:
Corriente Res Inc (ETQ) was trading in a bullish 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 : 8.39, 8.53, 8.96.
Stock Support levels : 8.28, 8.19, 8.13, 8.13, 8.09, 8.08, 8.04, 8.03, 7.97, 7.88, 5.77,.