Stock Technical indicators to notice in CINTRA (CIN.MC)
1- Last bearish trend was from 7.97 $ (11/16/2009) to 7.21 $ (11/30/2009) a 0.76 $ move 2- The current bullish trend started from 7.21 $ at 11/30/2009 and is currently trading at 7.61 $.
4- CIN.MC current resistance level is at 7.68 which is the 61.80 % fibonacci retracement of the last 0.76 $ 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.
CINTRA (CIN.MC) Short term stock chart patterns for internet stock trading :
6- The Stock was supported by a support line, identified by two points: 7.210 and 7.010, and is currently supporting at 7.240.
CINTRA (CIN.MC) Mid term stock chart patterns for internet stock trading :
7- The Stock was resisted by a resistance line, identified by two points: 7.970 and 8.460, and is currently resisting at 7.680.
CINTRA (CIN.MC) Long term stock chart patterns for internet stock trading :
8- The Stock formed a 4.570 $ height triangle which was broken down at 7.220 in higher than usual volume, target of the pattern is 2.650.
Stock Trading Conclusion:
CINTRA (CIN.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 : 7.68, 7.68, 7.77, 7.97, 8.18, 8.44.
Stock Support levels : 7.59, 7.52, 7.50, 7.46, 7.41, 7.39, 7.36, 7.24, 7.21,.
