Stock Technical indicators to notice in ACS (ACS.MC)
1- Last bullish trend was from 20.74 $ (3/6/2012) to 22.16 $ (3/19/2012) a 1.42 $ move 2- The current bearish trend started from 22.16 $ at 3/19/2012 and is currently trading at 21.10 $.
4- ACS.MC current resistance level is at 21.28 which is the 61.80 % fibonacci retracement of the last 1.42 $ move.
5- According to ADX Indicator, the trend is currently 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.
ACS (ACS.MC) Short term stock chart patterns for internet stock trading :
6- The Stock was resisted by a resistance line, identified by two points: 22.160 and 24.240, and is currently resisting at 21.813.
ACS (ACS.MC) Mid term stock chart patterns for internet stock trading :
None.
ACS (ACS.MC) Long term stock chart patterns for internet stock trading :
7- The Stock was supported by a support line, identified by two points: 21.930 and 21.750 that was broken down at 22.330 transforming into a resistance line.
Stock Trading Conclusion:
ACS (ACS.MC) was trading in a 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 : 21.28, 21.35, 21.45, 21.50, 21.62, 21.63, 21.76, 21.81, 21.82, 22.16, 22.83.
Stock Support levels : 20.74, 20.35,.
