Stock Technical indicators to notice in Mr Chips Holdings Limited Ordin (MCH.NZ)
1- Last bullish trend was from 2.60 $ (6/4/2008) to 2.90 $ (7/11/2008) a 0.30 $ move 2- The current bearish trend started from 2.90 $ at 7/11/2008 and is currently trading at 2.57 $.
4- MCH.NZ current resistance level is at 2.60 which is the 100.00 % fibonacci retracement of the last 0.30 $ 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.
Mr Chips Holdings Limited Ordin (MCH.NZ) Short term stock chart patterns for internet stock trading :
6- The Stock was supported by a support line, identified by two points: 2.600 and 1.700 that was broken down at 2.610 transforming into a resistance line.
Mr Chips Holdings Limited Ordin (MCH.NZ) Mid term stock chart patterns for internet stock trading :
7- The Stock formed Double Bottom Pattern at 1.700 .
Mr Chips Holdings Limited Ordin (MCH.NZ) Long term stock chart patterns for internet stock trading :
8- The Stock formed Double Bottom Pattern at 1.700 .
Stock Trading Conclusion:
Mr Chips Holdings Limited Ordin (MCH.NZ) was trading in a strong 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 : 2.60, 2.65, 2.70, 2.71, 2.74, 2.75, 2.77, 2.79, 2.83, 2.90, 4.56.
Stock Support levels : 2.52, 2.41, 1.70,.
