Stock Technical indicators to notice in IRIDE (IRD.MI)
1- Last bullish trend was from 1.27 $ (5/26/2010) to 1.40 $ (6/18/2010) a 0.13 $ move 2- The current bearish trend started from 1.40 $ at 6/18/2010 and is currently trading at 1.24 $.
4- IRD.MI current resistance level is at 1.27 which is the 100.00 % fibonacci retracement of the last 0.13 $ 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.
IRIDE (IRD.MI) Short term stock chart patterns for internet stock trading :
6- The Stock traded in a bullish stock channel identifed by support at 1.270 and 1.240,resistance between 1.400 and 1.340 which was broken down at 1.300.
IRIDE (IRD.MI) Mid term stock chart patterns for internet stock trading :
7- The Stock was resisted by a resistance line, identified by two points: 1.400 and 1.510, and is currently resisting at 1.383.
IRIDE (IRD.MI) Long term stock chart patterns for internet stock trading :
8- The Stock was resisted by a resistance line, identified by two points: 1.400 and 1.510, and is currently resisting at 1.383.
Stock Trading Conclusion:
IRIDE (IRD.MI) 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 : 1.27, 1.28, 1.30, 1.32, 1.32, 1.33, 1.34, 1.34, 1.35, 1.37, 1.38, 1.40,.
Stock Support levels : 1.23,.
