Stock Technical indicators to notice in Patni Computer Systems Limited (PTI)
1- Last bullish trend was from 19.66 $ (8/11/2010) to 23.09 $ (8/25/2010) a 3.43 $ move 2- The current bearish trend started from 23.09 $ at 8/25/2010 and is currently trading at 19.66 $.
4- PTI current resistance level is at 19.66 which is the 100.00 % fibonacci retracement of the last 3.43 $ 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.
Patni Computer Systems Limited (PTI) Short term stock chart patterns for internet stock trading :
6- The Stock was resisted by a resistance line, identified by two points: 23.090 and 24.070, and is currently resisting at 22.877.
Patni Computer Systems Limited (PTI) Mid term stock chart patterns for internet stock trading :
7- The Stock was resisted by a resistance line, identified by two points: 23.090 and 24.070, and is currently resisting at 22.877.
Patni Computer Systems Limited (PTI) Long term stock chart patterns for internet stock trading :
8- The Stock was resisted by a resistance line, identified by two points: 23.090 and 24.070, and is currently resisting at 22.877.
Stock Trading Conclusion:
Patni Computer Systems Limited (PTI) was trading in a 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 : 20.47, 20.97, 21.38, 21.78, 22.16, 22.28, 22.88, 23.09,.
Stock Support levels : 18.73,.
