Stock Technical indicators to notice in SCD (000975.SZ)
1- Last bearish trend was from 4.94 $ (12/30/2011) to 4.33 $ (1/5/2012) a 0.61 $ move 2- The current bullish trend started from 4.33 $ at 1/5/2012 and is currently trading at 5.12 $.
4- 000975.SZ current resistance level is at 5.32 which is the 161.80 % fibonacci retracement of the last 0.61 $ move.
5- According to ADX Indicator, the trend is currently strong bearish,which is becoming weaker.
SCD (000975.SZ) Short term stock chart patterns for internet stock trading :
6- The Stock traded in a bearish stock channel identifed by support at 4.330 and 4.760,resistance between 4.940 and 5.730 which was broken up at 4.610 in higher than usual volume.
SCD (000975.SZ) Mid term stock chart patterns for internet stock trading :
7- The Stock formed Double Top Pattern at 8.420 .
SCD (000975.SZ) Long term stock chart patterns for internet stock trading :
8- The Stock formed Double Top Pattern at 8.420 .
Stock Trading Conclusion:
SCD (000975.SZ) was trading in a strong bearish wave, which is becoming weaker .
Technical indicators and stock chart patterns show bearish direction,
recommend hedging long positions or entering short position or bearish spread options strategy in online trading .
Stock Resistance Levels : 5.32, 8.32,.
Stock Support levels : 5.11, 4.94, 4.93, 4.82, 4.72, 4.71, 4.64, 4.63, 4.56, 4.47, 4.33,.
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