Stock Technical indicators to notice in Seneca Foods Corp. (SENEB)
1- Last bullish trend was from 22.38 $ (4/23/2012) to 23.60 $ (5/4/2012) a 1.22 $ move 2- The current bearish trend started from 23.60 $ at 5/4/2012 and is currently trading at 22.82 $.
4- SENEB current resistance level is at 22.85 which is the 61.80 % fibonacci retracement of the last 1.22 $ 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.
6- Bullish Divergance in MACD Indicator .
Seneca Foods Corp. (SENEB) Short term stock chart patterns for internet stock trading :
7- The Stock traded in a bearish stock channel identifed by support at 22.380 and 25.570,resistance between 23.600 and 27.100, the stock channel is currently supported from below by 20.557 and resisted from above by 23.143.
Seneca Foods Corp. (SENEB) Mid term stock chart patterns for internet stock trading :
8- The Stock was resisted by a resistance line, identified by two points: 27.100 and 27.680, and is currently resisting at 26.472.
Seneca Foods Corp. (SENEB) Long term stock chart patterns for internet stock trading :
9- The Stock formed a 10.000 $ height triangle which was broken down at 22.380 in higher than usual volume, target of the pattern is 12.380.
Stock Trading Conclusion:
Seneca Foods Corp. (SENEB) was trading in a strong bearish wave, which is becoming stronger .
Technical indicators and stock chart patterns show highly volatile movements favoriting no favorited direction,
recommend hold or waiting for entry , 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 : 22.85, 22.99, 23.00, 23.12, 23.13, 23.21, 23.30, 23.31, 23.60, 24.49, 26.47.
Stock Support levels : 22.38, 22.05, 21.63,.
