Stock Technical indicators to notice in SHOUGANG CENT (0103.HK)
1- Last bearish trend was from 0.33 $ (5/2/2012) to 0.32 $ (5/3/2012) a 0.01 $ move 2- The current bullish trend started from 0.32 $ at 5/3/2012 and is currently trading at 0.33 $.
4- 0103.HK current resistance level is at 0.33 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 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.
SHOUGANG CENT (0103.HK) Short term stock chart patterns for internet stock trading :
6- The Stock is trading in a stock channel between 0.320 $ and 0.330 $.
SHOUGANG CENT (0103.HK) Mid term stock chart patterns for internet stock trading :
7- The Stock formed Double Bottom Pattern at 0.340 that failed and formed a resistance.
8- The Stock formed Double Top Pattern at 0.370 .
SHOUGANG CENT (0103.HK) Long term stock chart patterns for internet stock trading :
9- The Stock was resisted by a resistance line, identified by two points: 0.420 and 0.440, and is currently resisting at 0.406.
Stock Trading Conclusion:
SHOUGANG CENT (0103.HK) was trading in a strong 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 : 0.333, 0.336, 0.340, 0.370, 0.406.
Stock Support levels : 0.328, 0.326, 0.325, 0.324, 0.322, 0.320,.
