Stock Technical indicators to notice in OCEANFREIGHT (OYP.BE)
1- Last bearish trend was from 1.67 $ (4/27/2010) to 1.53 $ (6/7/2010) a 0.14 $ move 2- The current bullish trend started from 1.53 $ at 6/7/2010 and is currently trading at 1.62 $.
4- OYP.BE current resistance level is at 1.67 which is the 100.00 % fibonacci retracement of the last 0.14 $ 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.
6- Bullish Divergance in MACD Indicator .
OCEANFREIGHT (OYP.BE) Short term stock chart patterns for internet stock trading :
7- The Stock was supported by a support line, identified by two points: 1.530 and 0.540 that was broken down at 1.620 transforming into a resistance line.
OCEANFREIGHT (OYP.BE) Mid term stock chart patterns for internet stock trading :
8- The Stock formed Double Bottom Pattern at 0.530 .
OCEANFREIGHT (OYP.BE) Long term stock chart patterns for internet stock trading :
9- The Stock formed Double Bottom Pattern at 0.530 .
Stock Trading Conclusion:
OCEANFREIGHT (OYP.BE) 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 : 1.67, 1.71, 1.74, 1.76.
Stock Support levels : 1.62, 1.60, 1.60, 1.59, 1.58, 1.57, 1.56, 1.56, 1.53, 0.53,.