Stock Technical indicators to notice in Provident Community Bancshares (PCBS)
1- Last bearish trend was from 1.65 $ (8/19/2010) to 1.41 $ (8/26/2010) a 0.24 $ move 2- The current bullish trend started from 1.41 $ at 8/26/2010 and is currently trading at 1.49 $.
4- PCBS current resistance level is at 1.50 which is the 38.20 % fibonacci retracement of the last 0.24 $ 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.
Provident Community Bancshares (PCBS) Short term stock chart patterns for internet stock trading :
6- The Stock was resisted by a resistance line, identified by two points: 1.650 and 1.750 that was broken up at 1.600 transforming into a supporting line.
Provident Community Bancshares (PCBS) Mid term stock chart patterns for internet stock trading :
7- The Stock was resisted by a resistance line, identified by two points: 1.750 and 2.470 that was broken up at 1.650 transforming into a supporting line.
Provident Community Bancshares (PCBS) Long term stock chart patterns for internet stock trading :
8- The Stock was resisted by a resistance line, identified by two points: 1.750 and 2.470 that was broken up at 1.650 transforming into a supporting line.
Stock Trading Conclusion:
Provident Community Bancshares (PCBS) was trading in a strong bearish wave, which is becoming stronger .
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 : 1.50, 1.53, 1.56, 1.65, 1.72, 1.80.
Stock Support levels : 1.47, 1.47, 1.46, 1.45, 1.44, 1.41, 1.20, 0.87,.
