Stock Technical indicators to notice in S.S.ORGANICS (SSORGS.BO)
1- Last bearish trend was from 8.00 $ (9/9/2011) to 7.61 $ (9/14/2011) a 0.39 $ move 2- The current bullish trend started from 7.61 $ at 9/14/2011 and is currently trading at 7.99 $.
4- SSORGS.BO current resistance level is at 8.00 which is the 100.00 % fibonacci retracement of the last 0.39 $ move.
5- According to ADX Indicator, the trend is currently strong bullish,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.
S.S.ORGANICS (SSORGS.BO) Short term stock chart patterns for internet stock trading :
6- The Stock traded in a bearish stock channel identifed by support at 7.610 and 7.750,resistance between 8.000 and 8.150 which was broken up at 7.990 in higher than usual volume.
S.S.ORGANICS (SSORGS.BO) Mid term stock chart patterns for internet stock trading :
None.
S.S.ORGANICS (SSORGS.BO) Long term stock chart patterns for internet stock trading :
7- The Stock was resisted by a resistance line, identified by two points: 7.960 and 10.450 that was broken up at 5.630 transforming into a supporting line.
Stock Trading Conclusion:
S.S.ORGANICS (SSORGS.BO) was trading in a strong bullish wave, which is becoming weaker .
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 : 8.00, 8.11, 8.24.
Stock Support levels : 7.90, 7.85, 7.85, 7.84, 7.81, 7.80, 7.76, 7.76, 7.70, 7.61,.
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