Stock Technical indicators to notice in SHAFTESBURY PLC (OVW.BE)
1- Last bullish trend was from 5.01 $ (4/5/2011) to 5.32 $ (4/6/2011) a 0.31 $ move 2- The current bearish trend started from 5.32 $ at 4/6/2011 and is currently trading at 4.95 $.
4- OVW.BE current resistance level is at 5.01 which is the 100.00 % fibonacci retracement of the last 0.31 $ move.
5- According to ADX Indicator, the trend is currently strong bullish, which is getting stronger.
SHAFTESBURY PLC (OVW.BE) Short term stock chart patterns for internet stock trading :
6- The Stock traded in a bullish stock channel identifed by support at 5.010 and 4.940,resistance between 5.320 and 5.250 which was broken down at 4.990.
SHAFTESBURY PLC (OVW.BE) Mid term stock chart patterns for internet stock trading :
7- The Stock formed Double Top Pattern at 5.320 .
8- The Stock formed a 0.460 $ height triangle which was broken down at 4.950, target of the pattern is 4.490.
SHAFTESBURY PLC (OVW.BE) Long term stock chart patterns for internet stock trading :
9- The Stock traded in a bullish stock channel identifed by support at 4.840 and 4.690,resistance between 5.440 and 5.300, the stock channel is currently supported from below by 4.915 and resisted from above by 5.549.
Stock Trading Conclusion:
SHAFTESBURY PLC (OVW.BE) was trading in a strong bullish wave, which is becoming stronger .
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 : 4.99, 5.01, 5.04, 5.09, 5.13, 5.14, 5.15, 5.16, 5.18, 5.20, 5.25, 5.32, 5.33.
Stock Support levels : 4.93, 4.82,.