Stock Technical indicators to notice in Main Street Restaurant Group (MAIN)
1- Last bearish trend was from 18.82 $ (11/18/2011) to 18.20 $ (11/23/2011) a 0.62 $ move 2- The current bullish trend started from 18.20 $ at 11/23/2011 and is currently trading at 22.31 $.
Main Street Restaurant Group (MAIN) Short term stock chart patterns for internet stock trading :
4- The Stock traded in a bullish stock channel identifed by support at 18.200 and 16.800,resistance between 18.820 and 17.670 which was broken down at 22.170.
Main Street Restaurant Group (MAIN) Mid term stock chart patterns for internet stock trading :
5- The Stock formed Double Top Pattern at 18.240 that failed, and formed a support .
6- The Stock was supported by a support line, identified by two points: 16.800 and 16.570, and is currently supporting at 17.501.
Main Street Restaurant Group (MAIN) Long term stock chart patterns for internet stock trading :
7- The Stock formed a 3.820 $ height triangle which was broken up at 17.800 in higher than usual volume, target of the pattern is 21.620.
Stock Trading Conclusion:
Main Street Restaurant Group (MAIN) was trading in a strong bullish wave, which is becoming stronger .
Technical indicators and stock chart patterns show bullish direction,
recommend stopping short positions or entering long position or bullish spread options strategy in online trading .
Stock Resistance Levels : 22.40.
Stock Support levels : 21.34, 20.74, 20.26, 19.77, 18.26, 18.20, 17.50,.
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