Stock Technical indicators to notice in Citibank Structured Product (PCO)
1- Last bearish trend was from 9.90 $ (10/28/2009) to 9.56 $ (10/29/2009) a 0.34 $ move 2- The current bullish trend started from 9.56 $ at 10/29/2009 and is currently trading at 10.00 $.
4- PCO current resistance level is at 10.11 which is the 161.80 % fibonacci retracement of the last 0.34 $ move.
5- According to ADX Indicator, the trend is currently strong 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.
Citibank Structured Product (PCO) Short term stock chart patterns for internet stock trading :
6- The Stock formed Double Bottom Pattern at 9.560 .
7- The Stock formed Double Top Pattern at 9.900 that failed, and formed a support .
Citibank Structured Product (PCO) Mid term stock chart patterns for internet stock trading :
8- The Stock formed Double Bottom Pattern at 9.500 .
9- The Stock formed a 0.910 $ height triangle which was broken up at 9.700 in higher than usual volume, target of the pattern is 10.610.
Citibank Structured Product (PCO) Long term stock chart patterns for internet stock trading :
10- The Stock was supported by a support line, identified by two points: 9.500 and 9.280, and is currently supporting at 9.967.
Stock Trading Conclusion:
Citibank Structured Product (PCO) was trading in a strong 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 : 10.11, 10.61.
Stock Support levels : 9.99, 9.97, 9.90, 9.90, 9.83, 9.78, 9.77, 9.73, 9.73, 9.69, 9.64, 9.56, 9.43, 8.19, 8.05, 7.92,.
