Stock Technical indicators to notice in ANGLO AMERICAN (AAM.SW)
1- Last bullish trend was from 27.50 $ (10/24/2012) to 29.45 $ (11/2/2012) a 1.95 $ move 2- The current bearish trend started from 29.45 $ at 11/2/2012 and is currently trading at 27.40 $.
4- AAM.SW current resistance level is at 27.50 which is the 100.00 % fibonacci retracement of the last 1.95 $ move.
5- According to ADX Indicator, the trend is currently bearish,which is becoming weaker.
ANGLO AMERICAN (AAM.SW) Short term stock chart patterns for internet stock trading :
6- The Stock was supported by a support line, identified by two points: 27.500 and 26.850 that was broken down at 28.650 transforming into a resistance line.
ANGLO AMERICAN (AAM.SW) Mid term stock chart patterns for internet stock trading :
7- The Stock was resisted by a resistance line, identified by two points: 29.450 and 30.000, and is currently resisting at 29.313.
ANGLO AMERICAN (AAM.SW) Long term stock chart patterns for internet stock trading :
8- The Stock formed a 5.810 $ height triangle.
Stock Trading Conclusion:
ANGLO AMERICAN (AAM.SW) was trading in a bearish 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 : 27.50, 27.88, 28.18, 28.24, 28.42, 28.48, 28.67, 28.71, 28.91, 28.99, 29.31, 29.45,.
Stock Support levels : 26.97,.