Stock Technical indicators to notice in LYGF (002088.SZ)
1- Last bearish trend was from 12.15 $ (4/13/2012) to 10.45 $ (4/26/2012) a 1.70 $ move 2- The current bullish trend started from 10.45 $ at 4/26/2012 and is currently trading at 10.94 $.
4- 002088.SZ current resistance level is at 11.10 which is the 38.20 % fibonacci retracement of the last 1.70 $ 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.
LYGF (002088.SZ) Short term stock chart patterns for internet stock trading :
6- The Stock was resisted by a resistance line, identified by two points: 12.150 and 12.300, and is currently resisting at 11.790.
LYGF (002088.SZ) Mid term stock chart patterns for internet stock trading :
7- The Stock formed a 3.140 $ height triangle which was broken down at 10.950 in higher than usual volume, target of the pattern is 7.810.
LYGF (002088.SZ) Long term stock chart patterns for internet stock trading :
8- The Stock formed a 3.710 $ height triangle which was broken down at 10.950 in higher than usual volume, target of the pattern is 7.240.
Stock Trading Conclusion:
LYGF (002088.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 : 11.10, 11.30, 11.42, 11.50, 11.59, 11.79, 12.15, 12.61, 13.20.
Stock Support levels : 10.85, 10.82, 10.75, 10.69, 10.64, 10.45, 7.81,.
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