Stock Technical indicators to notice in WELLSTREAM HOLD (WSM.L)
1- Last bearish trend was from 770.00 $ (11/5/2010) to 727.50 $ (11/24/2010) a 42.50 $ move 2- The current bullish trend started from 727.50 $ at 11/24/2010 and is currently trading at 782.00 $.
4- WSM.L current resistance level is at 796.27 which is the 161.80 % fibonacci retracement of the last 42.50 $ move.
5- According to ADX Indicator, the trend is currently strong 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.
WELLSTREAM HOLD (WSM.L) Short term stock chart patterns for internet stock trading :
6- The Stock was resisted by a resistance line, identified by two points: 770.000 and 789.000 that was broken up at 790.000 transforming into a supporting line.
WELLSTREAM HOLD (WSM.L) Mid term stock chart patterns for internet stock trading :
7- The Stock was supported by a support line, identified by two points: 727.500 and 505.500 that was broken down at 788.000 transforming into a resistance line.
WELLSTREAM HOLD (WSM.L) Long term stock chart patterns for internet stock trading :
8- The Stock was resisted by a resistance line, identified by two points: 485.200 and 562.500 that was broken up at 441.100 transforming into a supporting line.
Stock Trading Conclusion:
WELLSTREAM HOLD (WSM.L) was trading in a strong 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 : 796.27, 974.17.
Stock Support levels : 781.56, 770.00, 769.14, 761.18, 754.75, 753.77, 748.75, 748.32, 743.73, 737.53, 727.50, 704.29,.
