Stock Technical indicators to notice in CHINA MERCHANTS EN ‘A’CNY1 (601872.SS)
1- Last bearish trend was from 3.35 $ (2/28/2012) to 2.93 $ (3/29/2012) a 0.42 $ move 2- The current bullish trend started from 2.93 $ at 3/29/2012 and is currently trading at 3.21 $.
4- 601872.SS current resistance level is at 3.35 which is the 100.00 % fibonacci retracement of the last 0.42 $ move.
5- According to ADX Indicator, the trend is currently 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.
CHINA MERCHANTS EN ‘A’CNY1 (601872.SS) Short term stock chart patterns for internet stock trading :
None.
CHINA MERCHANTS EN ‘A’CNY1 (601872.SS) Mid term stock chart patterns for internet stock trading :
6- The Stock formed a 0.800 $ height triangle which was broken up at 3.210 in higher than usual volume, target of the pattern is 4.010.
CHINA MERCHANTS EN ‘A’CNY1 (601872.SS) Long term stock chart patterns for internet stock trading :
7- The Stock formed a 0.800 $ height triangle which was broken up at 3.210 in higher than usual volume, target of the pattern is 4.010.
Stock Trading Conclusion:
CHINA MERCHANTS EN ‘A’CNY1 (601872.SS) was trading in a 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 : 3.35, 3.46, 3.61, 4.01,.
Stock Support levels : 3.21, 3.19, 3.14, 3.14, 3.10, 3.09, 3.07, 3.04, 3.03, 2.93,.
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