Stock Technical indicators to notice in TVS ELECTRONICS LTD (TVSELECT.NS)
1- Last bearish trend was from 18.50 $ (4/18/2012) to 16.70 $ (4/30/2012) a 1.80 $ move 2- The current bullish trend started from 16.70 $ at 4/30/2012 and is currently trading at 17.60 $.
4- TVSELECT.NS current resistance level is at 17.81 which is the 61.80 % fibonacci retracement of the last 1.80 $ move.
5- According to ADX Indicator, the trend is currently bullish, 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.
TVS ELECTRONICS LTD (TVSELECT.NS) Short term stock chart patterns for internet stock trading :
6- The Stock formed Double Bottom Pattern at 16.700 .
TVS ELECTRONICS LTD (TVSELECT.NS) Mid term stock chart patterns for internet stock trading :
7- The Stock was resisted by a resistance line, identified by two points: 18.500 and 19.550, and is currently resisting at 18.204.
TVS ELECTRONICS LTD (TVSELECT.NS) Long term stock chart patterns for internet stock trading :
8- The Stock was resisted by a resistance line, identified by two points: 18.500 and 20.000, and is currently resisting at 18.163.
Stock Trading Conclusion:
TVS ELECTRONICS LTD (TVSELECT.NS) was trading in a bullish 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 : 17.81, 18.16, 18.20, 18.50, 18.85, 18.99, 19.61.
Stock Support levels : 17.39, 17.26, 17.15, 17.12, 17.04, 16.71, 16.70,.
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