Stock Technical indicators to notice in CH PHOENIX (000520.SZ)
1- Last bullish trend was from 2.86 $ (3/29/2012) to 3.24 $ (4/20/2012) a 0.38 $ move 2- The current bearish trend started from 3.24 $ at 4/20/2012 and is currently trading at 2.87 $.
4- 000520.SZ current resistance level is at 3.01 which is the 61.80 % fibonacci retracement of the last 0.38 $ move.
5- According to ADX Indicator, the trend is currently 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.
CH PHOENIX (000520.SZ) Short term stock chart patterns for internet stock trading :
6- The Stock was resisted by a resistance line, identified by two points: 3.240 and 3.390, and is currently resisting at 3.180.
CH PHOENIX (000520.SZ) Mid term stock chart patterns for internet stock trading :
7- The Stock was resisted by a resistance line, identified by two points: 3.240 and 3.390, and is currently resisting at 3.180.
CH PHOENIX (000520.SZ) Long term stock chart patterns for internet stock trading :
8- The Stock formed a 0.800 $ height triangle which was broken down at 2.930 in higher than usual volume, target of the pattern is 2.130.
Stock Trading Conclusion:
CH PHOENIX (000520.SZ) was trading in a 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 : 2.96, 2.96, 3.01, 3.01, 3.05, 3.05, 3.09, 3.10, 3.15, 3.18, 3.24,.
Stock Support levels : 2.86, 2.76, 2.63,.
