Stock Technical indicators to notice in MEKONOMEN (MEKO.ST)
1- Last bearish trend was from 221.00 $ (3/26/2012) to 207.00 $ (4/23/2012) a 14.00 $ move 2- The current bullish trend started from 207.00 $ at 4/23/2012 and is currently trading at 214.50 $.
4- MEKO.ST current resistance level is at 215.65 which is the 61.80 % fibonacci retracement of the last 14.00 $ move.
5- According to ADX Indicator, the trend is currently bearish,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.
MEKONOMEN (MEKO.ST) Short term stock chart patterns for internet stock trading :
6- The Stock formed a 26.440 $ height triangle which was broken up at 213.000 in higher than usual volume, target of the pattern is 239.440.
MEKONOMEN (MEKO.ST) Mid term stock chart patterns for internet stock trading :
7- The Stock traded in a bearish stock channel identifed by support at 204.060 and 220.000,resistance between 221.000 and 237.000 which was broken up at 212.500 in higher than usual volume.
MEKONOMEN (MEKO.ST) Long term stock chart patterns for internet stock trading :
None.
Stock Trading Conclusion:
MEKONOMEN (MEKO.ST) was trading in a bearish 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 : 215.65, 221.00, 224.81, 229.65, 239.44.
Stock Support levels : 214.00, 212.73, 212.35, 211.63, 210.75, 210.30, 209.87, 207.00, 206.10,.
