Stock Technical indicators to notice in Pricesmart (PSMT)
1- Last bullish trend was from 77.71 $ (4/24/2012) to 83.38 $ (5/2/2012) a 5.67 $ move 2- The current bearish trend started from 83.38 $ at 5/2/2012 and is currently trading at 77.09 $.
4- PSMT current resistance level is at 77.71 which is the 100.00 % fibonacci retracement of the last 5.67 $ 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.
Pricesmart (PSMT) Short term stock chart patterns for internet stock trading :
6- The Stock was supported by a support line, identified by two points: 77.710 and 75.380 that was broken down at 76.510 transforming into a resistance line.
Pricesmart (PSMT) Mid term stock chart patterns for internet stock trading :
7- The Stock was supported by a support line, identified by two points: 63.490 and 58.830, and is currently supporting at 69.574.
Pricesmart (PSMT) Long term stock chart patterns for internet stock trading :
8- The Stock was supported by a support line, identified by two points: 63.490 and 58.830, and is currently supporting at 69.574.
Stock Trading Conclusion:
Pricesmart (PSMT) was trading in a strong bearish wave, which is becoming weaker .
Technical indicators and stock chart patterns show highly volatile movements favoriting bearish direction,
recommend hedging long positions or entering short position or bearish 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 : 77.71, 78.57, 79.49, 79.88, 80.24, 80.54, 80.98, 81.21, 81.98, 82.04, 83.38,.
Stock Support levels : 76.17, 74.21, 69.57,.
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