Stock Technical indicators to notice in ASSYSTEM (ASY.PA)
1- Last bullish trend was from 11.61 $ (7/21/2010) to 12.50 $ (8/10/2010) a 0.89 $ move 2- The current bearish trend started from 12.50 $ at 8/10/2010 and is currently trading at 11.78 $.
4- ASY.PA current resistance level is at 11.95 which is the 61.80 % fibonacci retracement of the last 0.89 $ 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.
ASSYSTEM (ASY.PA) Short term stock chart patterns for internet stock trading :
6- The Stock was resisted by a resistance line, identified by two points: 12.500 and 12.650, and is currently resisting at 12.396.
ASSYSTEM (ASY.PA) Mid term stock chart patterns for internet stock trading :
7- The Stock formed a 3.210 $ height triangle which was broken down at 12.140, target of the pattern is 8.930.
ASSYSTEM (ASY.PA) Long term stock chart patterns for internet stock trading :
8- The Stock was supported by a support line, identified by two points: 10.230 and 7.710 that was broken down at 11.610 transforming into a resistance line.
Stock Trading Conclusion:
ASSYSTEM (ASY.PA) was trading in a 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 : 11.94, 11.95, 11.95, 12.06, 12.06, 12.14, 12.16, 12.22, 12.29, 12.40, 12.50, 12.64.
Stock Support levels : 11.61, 11.37, 11.06,.
