Stock Technical indicators to notice in TURBO POWER SYSTEMS (TPS.L)
1- Last bearish trend was from 0.29 $ (4/18/2012) to 0.22 $ (5/2/2012) a 0.07 $ move 2- The current bullish trend started from 0.22 $ at 5/2/2012 and is currently trading at 0.24 $.
4- TPS.L current resistance level is at 0.25 which is the 38.20 % fibonacci retracement of the last 0.07 $ move.
5- According to ADX Indicator, the trend is currently strong bearish,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.
TURBO POWER SYSTEMS (TPS.L) Short term stock chart patterns for internet stock trading :
6- The Stock was resisted by a resistance line, identified by two points: 0.290 and 0.310 that was broken up at 0.230 transforming into a supporting line.
TURBO POWER SYSTEMS (TPS.L) Mid term stock chart patterns for internet stock trading :
7- The Stock traded in a bearish stock channel identifed by support at 0.220 and 0.270,resistance between 0.290 and 0.320 which was broken up at 0.240 in higher than usual volume.
TURBO POWER SYSTEMS (TPS.L) Long term stock chart patterns for internet stock trading :
8- The Stock was resisted by a resistance line, identified by two points: 0.340 and 0.370, and is currently resisting at 0.304.
Stock Trading Conclusion:
TURBO POWER SYSTEMS (TPS.L) was trading in a strong bearish 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 : 0.247, 0.255, 0.263, 0.290, 0.304, 0.309, 0.333, 0.340.
Stock Support levels : 0.237, 0.235, 0.232, 0.230, 0.228, 0.220,.
