Stock Technical indicators to notice in RANDGOLD RESOURCES (RGR1.MU)
1- Last bullish trend was from 64.36 $ (4/26/2012) to 69.51 $ (4/27/2012) a 5.15 $ move 2- The current bearish trend started from 69.51 $ at 4/27/2012 and is currently trading at 62.78 $.
4- RGR1.MU current resistance level is at 62.96 which is the 127.20 % fibonacci retracement of the last 5.15 $ move.
5- According to ADX Indicator, the trend is currently strong bearish,which is becoming weaker.
RANDGOLD RESOURCES (RGR1.MU) Short term stock chart patterns for internet stock trading :
6- The Stock was supported by a support line, identified by two points: 64.360 and 62.890 that was broken down at 63.390 transforming into a resistance line.
RANDGOLD RESOURCES (RGR1.MU) Mid term stock chart patterns for internet stock trading :
7- The Stock traded in a bearish stock channel identifed by support at 62.890 and 81.940,resistance between 69.510 and 89.650, the stock channel is currently supported from below by 55.793 and resisted from above by 67.743.
RANDGOLD RESOURCES (RGR1.MU) Long term stock chart patterns for internet stock trading :
8- The Stock was resisted by a resistance line, identified by two points: 69.510 and 89.650, and is currently resisting at 67.743.
Stock Trading Conclusion:
RANDGOLD RESOURCES (RGR1.MU) was trading in a strong bearish wave, which is becoming weaker .
Technical indicators and stock chart patterns show bearish direction,
recommend hedging long positions or entering short position or bearish spread options strategy in online trading .
Stock Resistance Levels : 62.96, 64.36, 64.37, 65.04, 65.35, 66.15, 66.33, 66.93, 66.94, 67.23, 67.54, 67.74, 68.29, 69.51,.
Stock Support levels : 61.18.
