Stock Technical indicators to notice in Beacon Roofing Supply (BECN)
1- Last bullish trend was from 24.65 $ (4/23/2012) to 27.29 $ (4/27/2012) a 2.64 $ move 2- The current bearish trend started from 27.29 $ at 4/27/2012 and is currently trading at 25.89 $.
4- BECN current resistance level is at 25.97 which is the 50.00 % fibonacci retracement of the last 2.64 $ move.
5- According to ADX Indicator, the trend is currently bullish,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.
Beacon Roofing Supply (BECN) Short term stock chart patterns for internet stock trading :
6- The Stock formed Double Bottom Pattern at 24.650 .
Beacon Roofing Supply (BECN) Mid term stock chart patterns for internet stock trading :
7- The Stock traded in a bullish stock channel identifed by support at 24.650 and 17.410,resistance between 26.930 and 19.530, the stock channel is currently supported from below by 25.637 and resisted from above by 29.705.
Beacon Roofing Supply (BECN) Long term stock chart patterns for internet stock trading :
8- The Stock was supported by a support line, identified by two points: 17.410 and 15.340, and is currently supporting at 21.469.
Stock Trading Conclusion:
Beacon Roofing Supply (BECN) was trading in a bullish wave, which is becoming weaker .
Technical indicators and stock chart patterns show highly volatile movements favoriting bullish direction,
recommend stopping short positions or entering long position or bullish 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 : 25.97, 26.22, 26.28, 26.42, 26.59, 26.67, 26.76, 27.29,.
Stock Support levels : 25.66, 24.73, 24.65, 24.63, 24.54, 23.93, 23.02,.
