Stock Technical indicators to notice in Patni Computer Systems Limited (PTI)
1- Last bearish trend was from 19.10 $ (1/25/2012) to 18.25 $ (1/30/2012) a 0.85 $ move 2- The current bullish trend started from 18.25 $ at 1/30/2012 and is currently trading at 19.06 $.
4- PTI current resistance level is at 19.10 which is the 100.00 % fibonacci retracement of the last 0.85 $ move.
5- According to ADX Indicator, the trend is currently strong 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.
Patni Computer Systems Limited (PTI) Short term stock chart patterns for internet stock trading :
6- The Stock was supported by a support line, identified by two points: 18.250 and 16.150, and is currently supporting at 18.550.
Patni Computer Systems Limited (PTI) Mid term stock chart patterns for internet stock trading :
7- The Stock was supported by a support line, identified by two points: 16.150 and 13.190 that was broken down at 18.540 transforming into a resistance line.
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: 12.340 and 12.830 that was broken up at 13.750 transforming into a supporting line.
Stock Trading Conclusion:
Patni Computer Systems Limited (PTI) was trading in a strong bullish 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 : 19.10, 19.11, 19.33, 19.63.
Stock Support levels : 18.87, 18.78, 18.75, 18.67, 18.65, 18.57, 18.56, 18.55, 18.45, 18.25, 16.12, 16.09,.
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