Stock Technical indicators to notice in KINGFISHER (KFR.PA)
1- Last bullish trend was from 2.51 $ (1/19/2010) to 2.61 $ (1/20/2010) a 0.10 $ move 2- The current bearish trend started from 2.61 $ at 1/20/2010 and is currently trading at 2.47 $.
4- KFR.PA current resistance level is at 2.48 which is the 127.20 % fibonacci retracement of the last 0.10 $ 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.
KINGFISHER (KFR.PA) Short term stock chart patterns for internet stock trading :
6- The Stock formed Double Bottom Pattern at 2.510 that failed and formed a resistance.
7- The Stock formed Double Top Pattern at 2.610 .
KINGFISHER (KFR.PA) Mid term stock chart patterns for internet stock trading :
8- The Stock was resisted by a resistance line, identified by two points: 2.640 and 2.760, and is currently resisting at 2.575.
KINGFISHER (KFR.PA) Long term stock chart patterns for internet stock trading :
9- The Stock was supported by a support line, identified by two points: 2.340 and 2.260, and is currently supporting at 2.368.
Stock Trading Conclusion:
KINGFISHER (KFR.PA) 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 : 2.48, 2.50, 2.51, 2.52, 2.54, 2.55, 2.56, 2.56, 2.57, 2.57, 2.59, 2.61,.
Stock Support levels : 2.45,.
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