Stock Technical indicators to notice in CHINA SKY ONE MED (CH2.F)
1- Last bearish trend was from 0.22 $ (4/26/2012) to 0.21 $ (4/27/2012) a 0.01 $ move 2- The current bullish trend started from 0.21 $ at 4/27/2012 and is currently trading at 0.22 $.
4- CH2.F current resistance level is at 0.22 which is the 127.20 % fibonacci retracement of the last 0.01 $ move.
5- According to ADX Indicator, the trend is currently strong bearish,which is becoming weaker.
CHINA SKY ONE MED (CH2.F) Short term stock chart patterns for internet stock trading :
6- The Stock is trading in a stock channel between 0.210 $ and 0.220 $.
CHINA SKY ONE MED (CH2.F) Mid term stock chart patterns for internet stock trading :
7- The Stock was resisted by a resistance line, identified by two points: 0.250 and 0.260 that was broken up at 0.220 transforming into a supporting line.
CHINA SKY ONE MED (CH2.F) Long term stock chart patterns for internet stock trading :
8- The Stock formed a 1.000 $ height triangle which was broken up at 0.250 in higher than usual volume, target of the pattern is 1.250 which was broken down at 0.220, target of the pattern is -0.780.
Stock Trading Conclusion:
CHINA SKY ONE MED (CH2.F) was trading in a strong bearish wave, which is becoming weaker .
Technical indicators and stock chart patterns show bullish direction,
recommend stopping short positions or entering long position or bullish spread options strategy in online trading .
Stock Resistance Levels : 0.223, 0.226, 0.233, 1.250.
Stock Support levels : 0.218, 0.216, 0.215, 0.214, 0.212, 0.210, 0.202, -0.780,.
