Stock Technical indicators to notice in VALE R DOC PFD-A N1 (CVLA.F)
1- Last bullish trend was from 16.50 $ (4/26/2012) to 17.09 $ (4/30/2012) a 0.59 $ move 2- The current bearish trend started from 17.09 $ at 4/30/2012 and is currently trading at 16.23 $.
4- CVLA.F current resistance level is at 16.34 which is the 127.20 % fibonacci retracement of the last 0.59 $ move.
5- According to ADX Indicator, the trend is currently strong bearish, which is getting stronger.
VALE R DOC PFD-A N1 (CVLA.F) Short term stock chart patterns for internet stock trading :
6- The Stock was resisted by a resistance line, identified by two points: 17.090 and 17.920, and is currently resisting at 16.758.
VALE R DOC PFD-A N1 (CVLA.F) Mid term stock chart patterns for internet stock trading :
7- The Stock formed a 4.320 $ height triangle which was broken up at 17.240 in higher than usual volume, target of the pattern is 21.560 which was broken down at 16.910 in higher than usual volume, target of the pattern is 12.590.
VALE R DOC PFD-A N1 (CVLA.F) Long term stock chart patterns for internet stock trading :
8- The Stock was supported by a support line, identified by two points: 15.680 and 14.950 that was broken down at 16.750 transforming into a resistance line.
Stock Trading Conclusion:
VALE R DOC PFD-A N1 (CVLA.F) was trading in a strong bearish wave, which is becoming stronger .
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 : 16.34, 16.43, 16.50, 16.56, 16.66, 16.73, 16.76, 16.76, 16.80, 16.86, 16.94, 16.95, 17.09, 17.58, 21.56.
Stock Support levels : 16.14, 16.07,.
