Stock Technical indicators to notice in GAZPROM SP ADR (GAZ.DU)
1- Last bullish trend was from 8.43 $ (4/25/2012) to 8.72 $ (4/30/2012) a 0.29 $ move 2- The current bearish trend started from 8.72 $ at 4/30/2012 and is currently trading at 8.40 $.
4- GAZ.DU current resistance level is at 8.43 which is the 100.00 % fibonacci retracement of the last 0.29 $ move.
5- According to ADX Indicator, the trend is currently strong bearish, 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.
GAZPROM SP ADR (GAZ.DU) Short term stock chart patterns for internet stock trading :
6- The Stock was resisted by a resistance line, identified by two points: 8.720 and 9.400, and is currently resisting at 8.550.
GAZPROM SP ADR (GAZ.DU) Mid term stock chart patterns for internet stock trading :
7- The Stock was supported by a support line, identified by two points: 7.860 and 7.770 that was broken down at 8.270 transforming into a resistance line.
GAZPROM SP ADR (GAZ.DU) Long term stock chart patterns for internet stock trading :
8- The Stock was supported by a support line, identified by two points: 7.860 and 7.770 that was broken down at 8.270 transforming into a resistance line.
Stock Trading Conclusion:
GAZPROM SP ADR (GAZ.DU) was trading in a strong bearish wave, which is becoming stronger .
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 : 8.40, 8.43, 8.48, 8.52, 8.54, 8.55, 8.56, 8.58, 8.60, 8.61, 8.65, 8.72,.
Stock Support levels : 8.35,.
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