Stock Technical indicators to notice in SANTE CABLEWAYS (002159.SZ)
1- Last bearish trend was from 15.77 $ (4/5/2012) to 14.03 $ (4/27/2012) a 1.74 $ move 2- The current bullish trend started from 14.03 $ at 4/27/2012 and is currently trading at 14.50 $.
4- 002159.SZ current resistance level is at 14.69 which is the 38.20 % fibonacci retracement of the last 1.74 $ 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.
SANTE CABLEWAYS (002159.SZ) Short term stock chart patterns for internet stock trading :
6- The Stock was resisted by a resistance line, identified by two points: 15.770 and 16.360, and is currently resisting at 14.708.
SANTE CABLEWAYS (002159.SZ) Mid term stock chart patterns for internet stock trading :
7- The Stock formed a 4.190 $ height triangle which was broken down at 14.880 in higher than usual volume, target of the pattern is 10.690.
SANTE CABLEWAYS (002159.SZ) Long term stock chart patterns for internet stock trading :
8- The Stock was resisted by a resistance line, identified by two points: 16.360 and 17.260, and is currently resisting at 16.053.
Stock Trading Conclusion:
SANTE CABLEWAYS (002159.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 : 14.69, 14.71, 14.90, 15.11, 15.70, 15.77, 16.05, 16.24, 16.85.
Stock Support levels : 14.44, 14.39, 14.32, 14.26, 14.21, 14.03,.
