Stock Technical indicators to notice in MAROC TELECOM (MSPA.MU)
1- Last bullish trend was from 13.30 $ (5/27/2010) to 14.27 $ (6/22/2010) a 0.97 $ move 2- The current bearish trend started from 14.27 $ at 6/22/2010 and is currently trading at 13.17 $.
4- MSPA.MU current resistance level is at 13.30 which is the 100.00 % fibonacci retracement of the last 0.97 $ move.
5- According to ADX Indicator, the trend is currently strong 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.
MAROC TELECOM (MSPA.MU) Short term stock chart patterns for internet stock trading :
6- The Stock was supported by a support line, identified by two points: 13.300 and 3.950 that was broken down at 13.390 transforming into a resistance line.
MAROC TELECOM (MSPA.MU) Mid term stock chart patterns for internet stock trading :
7- The Stock formed Double Top Pattern at 14.270 .
MAROC TELECOM (MSPA.MU) Long term stock chart patterns for internet stock trading :
8- The Stock was resisted by a resistance line, identified by two points: 14.230 and 14.330, and is currently resisting at 14.187.
Stock Trading Conclusion:
MAROC TELECOM (MSPA.MU) was trading in a strong 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 : 13.30, 13.43, 13.59, 13.67, 13.72, 13.78, 13.85, 13.90, 14.04, 14.19, 14.27, 14.31, 37.19.
Stock Support levels : 13.04,.
