Stock Technical indicators to notice in DAX Germany (GDAXI)
1- Last bullish trend was from 6,523.00 $ (4/23/2012) to 6,801.32 $ (4/27/2012) a 278.32 $ move 2- The current bearish trend started from 6,801.32 $ at 4/27/2012 and is currently trading at 6,475.31 $.
4- GDAXI current resistance level is at 6,523.00 which is the 100.00 % fibonacci retracement of the last 278.32 $ 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.
DAX Germany (GDAXI) Short term stock chart patterns for internet stock trading :
6- The Index formed Double Top Pattern at 6,801.320 .
DAX Germany (GDAXI) Mid term stock chart patterns for internet stock trading :
7- The Index traded in a bullish stock channel identifed by support at 5,670.710 and 5,428.150,resistance between 7,157.820 and 6,106.090 which was broken down at 6,606.430 in higher than usual volume.
DAX Germany (GDAXI) Long term stock chart patterns for internet stock trading :
8- The Index was supported by a support line, identified by two points: 5,428.150 and 5,072.330, and is currently supporting at 6,193.498.
Stock Trading Conclusion:
DAX Germany (GDAXI) 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 : 6,523.00, 6,552.25, 6,599.85, 6,629.32, 6,638.31, 6,662.16, 6,676.78, 6,695.00, 6,735.64, 6,801.32, 6,801.60, 7,054.73.
Stock Support levels : 6,447.30, 6,351.00,.
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