Stock Technical indicators to notice in F24 (F2Y.F)
1- Last bullish trend was from 6.50 $ (1/25/2012) to 6.82 $ (1/26/2012) a 0.32 $ move 2- The current bearish trend started from 6.82 $ at 1/26/2012 and is currently trading at 6.39 $.
4- F2Y.F current resistance level is at 6.41 which is the 127.20 % fibonacci retracement of the last 0.32 $ move.
5- According to ADX Indicator, the trend is currently bearish,which is becoming weaker.furthermore, the ADX indicator location between DMI+ and DMI- is hinting on a strong move ahead. the stock is very volatile at this point.
F24 (F2Y.F) Short term stock chart patterns for internet stock trading :
6- The Stock formed Double Bottom Pattern at 6.500 that failed and formed a resistance.
7- The Stock formed Double Top Pattern at 6.820 .
F24 (F2Y.F) Mid term stock chart patterns for internet stock trading :
8- The Stock formed a 1.600 $ height triangle which was broken down at 6.390, target of the pattern is 4.790.
F24 (F2Y.F) Long term stock chart patterns for internet stock trading :
9- The Stock formed a 2.590 $ height triangle which was broken up at 6.500, target of the pattern is 9.090 which was broken down at 6.390, target of the pattern is 3.800.
Stock Trading Conclusion:
F24 (F2Y.F) was trading in a bearish wave, which is becoming weaker .
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 : 6.41, 6.45, 6.49, 6.50, 6.55, 6.61, 6.62, 6.66, 6.66, 6.70, 6.74, 6.82, 6.84, 6.99, 9.09.
Stock Support levels : 6.30, 5.02, 4.79,.
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