Stock Technical indicators to notice in Mcclatchy Company (the) (MNI)
1- Last bearish trend was from 2.91 $ (8/25/2010) to 2.68 $ (8/31/2010) a 0.23 $ move 2- The current bullish trend started from 2.68 $ at 8/31/2010 and is currently trading at 2.78 $.
4- MNI current resistance level is at 2.80 which is the 50.00 % fibonacci retracement of the last 0.23 $ move.
5- According to ADX Indicator, the trend is currently 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.
Mcclatchy Company (the) (MNI) Short term stock chart patterns for internet stock trading :
6- The Stock was resisted by a resistance line, identified by two points: 2.910 and 3.690 that was broken up at 2.780 transforming into a supporting line.
Mcclatchy Company (the) (MNI) Mid term stock chart patterns for internet stock trading :
7- The Stock was resisted by a resistance line, identified by two points: 2.910 and 3.880 that was broken up at 2.780 transforming into a supporting line.
Mcclatchy Company (the) (MNI) Long term stock chart patterns for internet stock trading :
8- The Stock traded in a bearish stock channel identifed by support at 3.160 and 3.280,resistance between 3.880 and 3.980 which was broken down at 2.850.
Stock Trading Conclusion:
Mcclatchy Company (the) (MNI) was trading in a 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 : 2.80, 2.82, 2.83, 2.91, 2.97, 3.05.
Stock Support levels : 2.77, 2.76, 2.74, 2.73, 2.73, 2.72, 2.68, 2.68,.
