Stock Technical indicators to notice in COMMERZBANK (COM.SW)
1- Last bullish trend was from 1.85 $ (4/24/2012) to 1.95 $ (4/30/2012) a 0.10 $ move 2- The current bearish trend started from 1.95 $ at 4/30/2012 and is currently trading at 1.82 $.
4- COM.SW current resistance level is at 1.82 which is the 127.20 % fibonacci retracement of the last 0.10 $ move.
5- According to ADX Indicator, the trend is currently 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.
COMMERZBANK (COM.SW) Short term stock chart patterns for internet stock trading :
6- The Stock was resisted by a resistance line, identified by two points: 1.950 and 1.980, and is currently resisting at 1.937.
COMMERZBANK (COM.SW) Mid term stock chart patterns for internet stock trading :
7- The Stock formed Double Top Pattern at 2.400 .
COMMERZBANK (COM.SW) Long term stock chart patterns for internet stock trading :
8- The Stock formed a 1.180 $ height triangle which was broken down at 2.310, target of the pattern is 1.130.
Stock Trading Conclusion:
COMMERZBANK (COM.SW) was trading in a 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 : 1.82, 1.85, 1.85, 1.87, 1.88, 1.89, 1.90, 1.90, 1.91, 1.93, 1.94, 1.95, 2.43, 2.73.
Stock Support levels : 1.79,.
