Stock Technical indicators to notice in ENERGY RES AUST -A- (EJ7.MU)
1- Last bullish trend was from 1.27 $ (4/30/2012) to 1.39 $ (5/3/2012) a 0.12 $ move 2- The current bearish trend started from 1.39 $ at 5/3/2012 and is currently trading at 1.31 $.
4- EJ7.MU current resistance level is at 1.32 which is the 61.80 % fibonacci retracement of the last 0.12 $ 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.
ENERGY RES AUST -A- (EJ7.MU) Short term stock chart patterns for internet stock trading :
6- The Stock was supported by a support line, identified by two points: 1.270 and 0.970 that was broken down at 1.310 transforming into a resistance line.
ENERGY RES AUST -A- (EJ7.MU) Mid term stock chart patterns for internet stock trading :
7- The Stock formed Double Top Pattern at 1.080 that failed, and formed a support .
ENERGY RES AUST -A- (EJ7.MU) Long term stock chart patterns for internet stock trading :
8- The Stock was resisted by a resistance line, identified by two points: 1.080 and 1.240 that was broken up at 1.000 transforming into a supporting line.
Stock Trading Conclusion:
ENERGY RES AUST -A- (EJ7.MU) was trading in a strong bullish wave, which is becoming stronger .
Technical indicators and stock chart patterns show highly volatile movements favoriting no favorited direction,
recommend hold or waiting for entry , 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 : 1.32, 1.33, 1.33, 1.34, 1.34, 1.35, 1.35, 1.36, 1.36, 1.39,.
Stock Support levels : 1.27, 1.24, 1.20, 1.08,.
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