Stock Technical indicators to notice in FORTRESS AMERICA ACQ (FIGI)
1- Last bearish trend was from 0.43 $ (5/3/2012) to 0.40 $ (5/8/2012) a 0.03 $ move 2- The current bullish trend started from 0.40 $ at 5/8/2012 and is currently trading at 0.43 $.
4- FIGI current resistance level is at 0.44 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.
FORTRESS AMERICA ACQ (FIGI) Short term stock chart patterns for internet stock trading :
6- The Stock was resisted by a resistance line, identified by two points: 0.430 and 0.460 that was broken up at 0.430 transforming into a supporting line.
FORTRESS AMERICA ACQ (FIGI) Mid term stock chart patterns for internet stock trading :
7- The Stock was supported by a support line, identified by two points: 0.400 and 0.380, and is currently supporting at 0.401.
FORTRESS AMERICA ACQ (FIGI) Long term stock chart patterns for internet stock trading :
8- The Stock traded in a bearish stock channel identifed by support at 0.380 and 0.850,resistance between 0.460 and 0.950 which was broken up at 0.430.
Stock Trading Conclusion:
FORTRESS AMERICA ACQ (FIGI) was trading in a strong bearish 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 : 0.438, 0.449.
Stock Support levels : 0.423, 0.419, 0.415, 0.411, 0.407, 0.401, 0.400,.
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