Stock Technical indicators to notice in HITKARI FIB (HITKRIF.BO)
1- Last bearish trend was from 18.00 $ (3/26/2012) to 16.30 $ (4/12/2012) a 1.70 $ move 2- The current bullish trend started from 16.30 $ at 4/12/2012 and is currently trading at 17.00 $.
4- HITKRIF.BO current resistance level is at 17.15 which is the 50.00 % fibonacci retracement of the last 1.70 $ move.
5- According to ADX Indicator, the trend is currently strong bearish,which is becoming weaker.furthermore, the ADX indicator location between DMI+ and DMI- is hinting on a strong move ahead. the stock is very volatile at this point.
HITKARI FIB (HITKRIF.BO) Short term stock chart patterns for internet stock trading :
6- The Stock formed Double Top Pattern at 18.000 .
HITKARI FIB (HITKRIF.BO) Mid term stock chart patterns for internet stock trading :
7- The Stock was resisted by a resistance line, identified by two points: 27.700 and 28.100, and is currently resisting at 26.867.
HITKARI FIB (HITKRIF.BO) Long term stock chart patterns for internet stock trading :
8- The Stock was resisted by a resistance line, identified by two points: 27.700 and 28.100, and is currently resisting at 26.867.
Stock Trading Conclusion:
HITKARI FIB (HITKRIF.BO) was trading in a strong bearish wave, which is becoming weaker .
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 : 17.15, 17.35, 18.00, 18.46, 19.05, 26.87,.
Stock Support levels : 16.95, 16.83, 16.73, 16.70, 16.65, 16.57, 16.30,.
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