Stock Technical indicators to notice in SPG-B (200029.SZ)
1- Last bullish trend was from 2.38 $ (4/19/2012) to 2.60 $ (4/25/2012) a 0.22 $ move 2- The current bearish trend started from 2.60 $ at 4/25/2012 and is currently trading at 2.52 $.
4- 200029.SZ current resistance level is at 2.55 which is the 23.60 % fibonacci retracement of the last 0.22 $ move.
5- According to ADX Indicator, the trend is currently strong 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.
SPG-B (200029.SZ) Short term stock chart patterns for internet stock trading :
6- The Stock traded in a bullish stock channel identifed by support at 2.380 and 2.110,resistance between 2.600 and 2.460 which was broken down at 2.530.
SPG-B (200029.SZ) Mid term stock chart patterns for internet stock trading :
7- The Stock formed a 0.720 $ height triangle which was broken up at 2.450 in higher than usual volume, target of the pattern is 3.170.
SPG-B (200029.SZ) Long term stock chart patterns for internet stock trading :
8- The Stock formed a 0.720 $ height triangle which was broken up at 2.450 in higher than usual volume, target of the pattern is 3.170.
Stock Trading Conclusion:
SPG-B (200029.SZ) was trading in a strong 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 : 2.54, 2.55, 2.55, 2.56, 2.57, 2.58, 2.60, 3.17,.
Stock Support levels : 2.52, 2.49, 2.46, 2.38, 2.34, 2.32,.
