Stock Technical indicators to notice in PLATMIN (PPN.L)
1- Last bearish trend was from 24.64 $ (10/12/2011) to 16.95 $ (10/28/2011) a 7.69 $ move 2- The current bullish trend started from 16.95 $ at 10/28/2011 and is currently trading at 18.30 $.
4- PPN.L current resistance level is at 18.76 which is the 23.60 % fibonacci retracement of the last 7.69 $ 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.
PLATMIN (PPN.L) Short term stock chart patterns for internet stock trading :
6- The Stock was resisted by a resistance line, identified by two points: 24.640 and 25.000, and is currently resisting at 22.300.
PLATMIN (PPN.L) Mid term stock chart patterns for internet stock trading :
7- The Stock was resisted by a resistance line, identified by two points: 24.640 and 25.000, and is currently resisting at 22.300.
PLATMIN (PPN.L) Long term stock chart patterns for internet stock trading :
8- The Stock formed a 4.200 $ height triangle which was broken down at 23.000, target of the pattern is 18.800.
Stock Trading Conclusion:
PLATMIN (PPN.L) 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 : 18.76, 19.89, 20.80, 21.70, 22.30, 24.64, 26.50, 26.73, 29.39.
Stock Support levels : 17.98, 17.78, 17.63, 17.47, 16.95,.
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