Stock Technical indicators to notice in MILLENNIUM COP HOT (MLC.L)
1- Last bearish trend was from 498.20 $ (3/16/2012) to 472.80 $ (4/10/2012) a 25.40 $ move 2- The current bullish trend started from 472.80 $ at 4/10/2012 and is currently trading at 499.95 $.
4- MLC.L current resistance level is at 505.11 which is the 127.20 % fibonacci retracement of the last 25.40 $ move.
5- According to ADX Indicator, the trend is currently bullish,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.
MILLENNIUM COP HOT (MLC.L) Short term stock chart patterns for internet stock trading :
6- The Stock traded in a bullish stock channel identifed by support at 472.800 and 378.360,resistance between 498.200 and 396.230 which was broken down at 499.950 in higher than usual volume.
MILLENNIUM COP HOT (MLC.L) Mid term stock chart patterns for internet stock trading :
7- The Stock formed a 76.430 $ height triangle which was broken up at 397.490 in higher than usual volume, target of the pattern is 473.920.
MILLENNIUM COP HOT (MLC.L) Long term stock chart patterns for internet stock trading :
8- The Stock formed a 76.430 $ height triangle which was broken up at 397.490 in higher than usual volume, target of the pattern is 473.920.
Stock Trading Conclusion:
MILLENNIUM COP HOT (MLC.L) was trading in a bullish wave, which is becoming weaker .
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 : 500.67, 505.11, 513.90.
Stock Support levels : 498.20, 493.54, 489.58, 488.50, 486.38, 485.50, 483.17, 482.50, 478.79, 472.80, 384.10, 327.72,.
