Stock Technical indicators to notice in GOLDSOURCE MINES (G5M.MU)
1- Last bearish trend was from 0.19 $ (1/24/2012) to 0.16 $ (1/30/2012) a 0.03 $ move 2- The current bullish trend started from 0.16 $ at 1/30/2012 and is currently trading at 0.19 $.
4- G5M.MU current resistance level is at 0.20 which is the 127.20 % fibonacci retracement of the last 0.03 $ move.
5- According to ADX Indicator, the trend is currently strong bearish,which is becoming weaker.furthermore, the ADX indicator location between DMI+ and DMI- is hinting on a strong move ahead. the stock is very volatile at this point.
GOLDSOURCE MINES (G5M.MU) Short term stock chart patterns for internet stock trading :
6- The Stock formed Double Top Pattern at 0.190 .
GOLDSOURCE MINES (G5M.MU) Mid term stock chart patterns for internet stock trading :
7- The Stock was resisted by a resistance line, identified by two points: 0.190 and 0.400 that was broken up at 0.170 transforming into a supporting line.
GOLDSOURCE MINES (G5M.MU) Long term stock chart patterns for internet stock trading :
8- The Stock was resisted by a resistance line, identified by two points: 0.190 and 0.400 that was broken up at 0.170 transforming into a supporting line.
Stock Trading Conclusion:
GOLDSOURCE MINES (G5M.MU) was trading in a strong bearish wave, which is becoming weaker .
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 : 0.198, 0.209.
Stock Support levels : 0.183, 0.179, 0.175, 0.171, 0.167, 0.160, 0.132,.
