Stock Technical indicators to notice in Alcatel (ALU)
1- Last bearish trend was from 2.78 $ (8/17/2010) to 2.56 $ (8/25/2010) a 0.22 $ move 2- The current bullish trend started from 2.56 $ at 8/25/2010 and is currently trading at 2.68 $.
4- ALU current resistance level is at 2.70 which is the 61.80 % fibonacci retracement of the last 0.22 $ move.
5- According to ADX Indicator, the trend is currently bearish,which is becoming weaker.
Alcatel (ALU) Short term stock chart patterns for internet stock trading :
6- The Stock was resisted by a resistance line, identified by two points: 2.780 and 3.090 that was broken up at 2.570 transforming into a supporting line.
Alcatel (ALU) Mid term stock chart patterns for internet stock trading :
7- The Stock was supported by a support line, identified by two points: 2.600 and 2.580, and is currently supporting at 2.680.
Alcatel (ALU) Long term stock chart patterns for internet stock trading :
8- The Stock traded in a bullish stock channel identifed by support at 2.530 and 2.360,resistance between 3.090 and 2.860 which was broken down at 2.700 in higher than usual volume.
Stock Trading Conclusion:
Alcatel (ALU) was trading in a bearish wave, which is becoming weaker .
Technical indicators and stock chart patterns show no favorited direction,
recommend hold or waiting for entry .
Stock Resistance Levels : 2.70, 2.78, 2.80, 2.84, 2.92.
Stock Support levels : 2.68, 2.67, 2.65, 2.64, 2.63, 2.62, 2.61, 2.61, 2.56,.
