Stock Technical indicators to notice in PSL (563.SI)
1- Last bearish trend was from 0.40 $ (6/23/2010) to 0.34 $ (9/8/2010) a 0.06 $ move 2- The current bullish trend started from 0.34 $ at 9/8/2010 and is currently trading at 0.37 $.
4- 563.SI current resistance level is at 0.38 which is the 61.80 % fibonacci retracement of the last 0.06 $ 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.
PSL (563.SI) Short term stock chart patterns for internet stock trading :
6- The Stock formed Double Top Pattern at 0.400 .
PSL (563.SI) Mid term stock chart patterns for internet stock trading :
7- The Stock traded in a bearish stock channel identifed by support at 0.340 and 0.360,resistance between 0.400 and 0.410, the stock channel is currently supported from below by 0.338 and resisted from above by 0.380.
PSL (563.SI) Long term stock chart patterns for internet stock trading :
8- The Stock formed a 0.120 $ height triangle which was broken up at 0.350 in higher than usual volume, target of the pattern is 0.470 which was broken down at 0.380 in higher than usual volume, target of the pattern is 0.260.
Stock Trading Conclusion:
PSL (563.SI) was trading in a strong bullish wave, which is becoming weaker .
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 : 0.377, 0.400, 0.416, 0.421, 0.437, 0.470.
Stock Support levels : 0.363, 0.359, 0.355, 0.354, 0.351, 0.340, 0.311,.
