Stock Technical indicators to notice in ORDINA (ORA.BE)
1- Last bullish trend was from 3.51 $ (3/9/2011) to 3.93 $ (4/7/2011) a 0.42 $ move 2- The current bearish trend started from 3.93 $ at 4/7/2011 and is currently trading at 3.81 $.
4- ORA.BE current resistance level is at 3.83 which is the 23.60 % fibonacci retracement of the last 0.42 $ 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.
ORDINA (ORA.BE) Short term stock chart patterns for internet stock trading :
6- The Stock was supported by a support line, identified by two points: 3.510 and 3.290 that was broken down at 3.530 transforming into a resistance line.
ORDINA (ORA.BE) Mid term stock chart patterns for internet stock trading :
7- The Stock formed a 0.560 $ height triangle which was broken up at 3.820, target of the pattern is 4.380 which was broken down at 3.530, target of the pattern is 2.970.
ORDINA (ORA.BE) Long term stock chart patterns for internet stock trading :
8- The Stock was supported by a support line, identified by two points: 3.290 and 3.000, and is currently supporting at 3.465.
Stock Trading Conclusion:
ORDINA (ORA.BE) was trading in a strong bullish wave, which is becoming stronger .
Technical indicators and stock chart patterns show highly volatile movements favoriting bearish direction,
recommend hedging long positions or entering short position or bearish 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 : 3.83, 3.84, 3.86, 3.87, 3.88, 3.93, 4.35, 4.38.
Stock Support levels : 3.77, 3.72, 3.67, 3.65, 3.51, 3.47, 3.40, 3.25,.