Stock Technical indicators to notice in CINEMAX IND (CINEMAX.BO)
1- Last bullish trend was from 33.15 $ (4/27/2012) to 34.95 $ (5/2/2012) a 1.80 $ move 2- The current bearish trend started from 34.95 $ at 5/2/2012 and is currently trading at 33.20 $.
4- CINEMAX.BO current resistance level is at 33.84 which is the 61.80 % fibonacci retracement of the last 1.80 $ move.
5- According to ADX Indicator, the trend is currently bullish,which is becoming weaker.
CINEMAX IND (CINEMAX.BO) Short term stock chart patterns for internet stock trading :
6- The Stock formed Double Bottom Pattern at 33.150 .
CINEMAX IND (CINEMAX.BO) Mid term stock chart patterns for internet stock trading :
7- The Stock formed a 5.550 $ height triangle which was broken up at 33.400, target of the pattern is 38.950 which was broken down at 34.750, target of the pattern is 29.200.
CINEMAX IND (CINEMAX.BO) Long term stock chart patterns for internet stock trading :
8- The Stock formed Double Top Pattern at 37.150 .
9- The Stock formed a 10.450 $ height triangle which was broken down at 34.100, target of the pattern is 23.650.
Stock Trading Conclusion:
CINEMAX IND (CINEMAX.BO) was trading in a bullish wave, which is becoming weaker .
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 : 33.61, 33.84, 33.87, 34.05, 34.08, 34.26, 34.28, 34.53, 34.95, 34.98, 35.13, 37.10, 38.95.
Stock Support levels : 33.19, 33.15, 33.10, 33.09, 32.93, 32.66, 32.04, 29.20,.
