Stock Technical indicators to notice in American Media Systems Co. (AMMS.OB)
1- Last bullish trend was from 0.65 $ (3/30/2009) to 0.68 $ (5/8/2009) a 0.03 $ move 2- The current bearish trend started from 0.68 $ at 5/8/2009 and is currently trading at 0.65 $.
4- AMMS.OB current resistance level is at 0.65 which is the 100.00 % fibonacci retracement of the last 0.03 $ 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.
American Media Systems Co. (AMMS.OB) Short term stock chart patterns for internet stock trading :
6- The Stock was resisted by a resistance line, identified by two points: 0.680 and 3.500 that was broken up at 0.650 transforming into a supporting line.
American Media Systems Co. (AMMS.OB) Mid term stock chart patterns for internet stock trading :
7- The Stock was supported by a support line, identified by two points: 1.130 and 0.550 that was broken down at 1.020 transforming into a resistance line.
American Media Systems Co. (AMMS.OB) Long term stock chart patterns for internet stock trading :
8- The Stock was supported by a support line, identified by two points: 1.130 and 0.550 that was broken down at 1.020 transforming into a resistance line.
Stock Trading Conclusion:
American Media Systems Co. (AMMS.OB) 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 : 0.657, 0.661, 0.665, 0.669, 0.673, 0.680, 2.226,.
Stock Support levels : 0.642, 0.631,.
