Stock Technical indicators to notice in Grupo Radio Centro (RC)
1- Last bullish trend was from 9.06 $ (4/5/2012) to 9.60 $ (5/8/2012) a 0.54 $ move 2- The current bearish trend started from 9.60 $ at 5/8/2012 and is currently trading at 9.20 $.
4- RC current resistance level is at 9.27 which is the 61.80 % fibonacci retracement of the last 0.54 $ move.
5- According to ADX Indicator, the trend is currently strong 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.
Grupo Radio Centro (RC) Short term stock chart patterns for internet stock trading :
6- The Stock was resisted by a resistance line, identified by two points: 9.600 and 9.700, and is currently resisting at 9.596.
Grupo Radio Centro (RC) Mid term stock chart patterns for internet stock trading :
7- The Stock was resisted by a resistance line, identified by two points: 9.700 and 9.900 that was broken up at 9.600 transforming into a supporting line.
Grupo Radio Centro (RC) Long term stock chart patterns for internet stock trading :
8- The Stock formed a 3.250 $ height triangle which was broken down at 9.140, target of the pattern is 5.890.
Stock Trading Conclusion:
Grupo Radio Centro (RC) was trading in a strong bearish wave, which is becoming stronger .
Technical indicators and stock chart patterns show highly volatile movements favoriting bearish direction,
recommend hedging long positions or entering short position or bearish 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 : 9.27, 9.29, 9.33, 9.35, 9.39, 9.40, 9.45, 9.47, 9.60, 9.60, 10.49.
Stock Support levels : 9.14, 9.06, 8.91, 8.73,.
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