Stock Technical indicators to notice in EUROPEAN GOLDFIELDS (EGU.L)
1- Last bearish trend was from 790.00 $ (1/17/2012) to 711.00 $ (1/25/2012) a 79.00 $ move 2- The current bullish trend started from 711.00 $ at 1/25/2012 and is currently trading at 815.00 $.
4- EGU.L current resistance level is at 838.82 which is the 161.80 % fibonacci retracement of the last 79.00 $ move.
5- According to ADX Indicator, the trend is currently bullish, 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.
EUROPEAN GOLDFIELDS (EGU.L) Short term stock chart patterns for internet stock trading :
6- The Stock was resisted by a resistance line, identified by two points: 790.000 and 803.000 that was broken up at 772.350 transforming into a supporting line.
EUROPEAN GOLDFIELDS (EGU.L) Mid term stock chart patterns for internet stock trading :
7- The Stock was resisted by a resistance line, identified by two points: 803.000 and 860.000 that was broken up at 772.350 transforming into a supporting line.
EUROPEAN GOLDFIELDS (EGU.L) Long term stock chart patterns for internet stock trading :
8- The Stock was resisted by a resistance line, identified by two points: 803.000 and 860.000 that was broken up at 772.350 transforming into a supporting line.
Stock Trading Conclusion:
EUROPEAN GOLDFIELDS (EGU.L) was trading in a bullish wave, which is becoming stronger .
Technical indicators and stock chart patterns show highly volatile movements favoriting bullish direction,
recommend stopping short positions or entering long position or bullish 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 : 838.82.
Stock Support levels : 811.49, 790.46, 790.00, 775.27, 763.00, 759.82, 756.20, 750.73, 750.50, 746.00, 741.18, 729.64, 711.00,.
