Stock Technical indicators to notice in ML INTL EQ PROCEED (MICX.PK)
1- Last bullish trend was from 7.00 $ (7/20/2009) to 7.50 $ (7/23/2009) a 0.50 $ move 2- The current bearish trend started from 7.50 $ at 7/23/2009 and is currently trading at 7.00 $.
4- MICX.PK current resistance level is at 7.00 which is the 100.00 % fibonacci retracement of the last 0.50 $ move.
5- According to ADX Indicator, the trend is currently strong bearish,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.
ML INTL EQ PROCEED (MICX.PK) Short term stock chart patterns for internet stock trading :
6- The Stock was resisted by a resistance line, identified by two points: 7.500 and 7.930, and is currently resisting at 7.395.
ML INTL EQ PROCEED (MICX.PK) Mid term stock chart patterns for internet stock trading :
7- The Stock was resisted by a resistance line, identified by two points: 7.500 and 7.930, and is currently resisting at 7.395.
ML INTL EQ PROCEED (MICX.PK) Long term stock chart patterns for internet stock trading :
8- The Stock formed a 2.180 $ height triangle which was broken up at 7.000, target of the pattern is 9.180 which was broken down at 7.500, target of the pattern is 5.320.
Stock Trading Conclusion:
ML INTL EQ PROCEED (MICX.PK) was trading in a strong bearish wave, which is becoming weaker .
Technical indicators and stock chart patterns show highly volatile movements favoriting no favorited direction,
recommend hold or waiting for entry , 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 : 7.12, 7.19, 7.25, 7.31, 7.38, 7.40, 7.50, 7.60, 9.18.
Stock Support levels : 6.86, 6.69, 6.65,.
