Stock Technical indicators to notice in MEDIA 6 (EDI.PA)
1- Last bearish trend was from 5.25 $ (7/12/2010) to 5.05 $ (7/16/2010) a 0.20 $ move 2- The current bullish trend started from 5.05 $ at 7/16/2010 and is currently trading at 5.18 $.
4- EDI.PA current resistance level is at 5.25 which is the 100.00 % fibonacci retracement of the last 0.20 $ move.
5- According to ADX Indicator, the trend is currently strong bullish,which is becoming weaker.furthermore, the ADX indicator location between DMI+ and DMI- is hinting on a strong move ahead. the stock is very volatile at this point.
MEDIA 6 (EDI.PA) Short term stock chart patterns for internet stock trading :
6- The Stock formed Double Bottom Pattern at 5.050 .
7- The Stock formed a 0.360 $ height triangle which was broken up at 5.160, target of the pattern is 5.520.
MEDIA 6 (EDI.PA) Mid term stock chart patterns for internet stock trading :
8- The Stock formed a 2.050 $ height triangle which was broken up at 5.060, target of the pattern is 7.110 which was broken down at 5.070, target of the pattern is 3.020.
MEDIA 6 (EDI.PA) Long term stock chart patterns for internet stock trading :
9- The Stock was supported by a support line, identified by two points: 4.800 and 3.750 that was broken down at 5.070 transforming into a resistance line.
Stock Trading Conclusion:
MEDIA 6 (EDI.PA) was trading in a strong bullish wave, which is becoming weaker .
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 : 5.25, 5.30, 5.37, 5.52, 7.11, 10.54,.
Stock Support levels : 5.17, 5.15, 5.15, 5.13, 5.13, 5.11, 5.10, 5.10, 5.09, 5.05, 4.14,.
