Stock Technical indicators to notice in STX PAN OCEAN (S6Z.SG)
1- Last bearish trend was from 2.17 $ (5/27/2013) to 1.91 $ (6/5/2013) a 0.26 $ move 2- The current bullish trend started from 1.91 $ at 6/5/2013 and is currently trading at 1.98 $.
4- S6Z.SG current resistance level is at 2.01 which is the 38.20 % fibonacci retracement of the last 0.26 $ move.
5- According to ADX Indicator, the trend is currently strong 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.
STX PAN OCEAN (S6Z.SG) Short term stock chart patterns for internet stock trading :
6- The Stock was resisted by a resistance line, identified by two points: 2.170 and 2.430 that was broken up at 1.980 transforming into a supporting line.
STX PAN OCEAN (S6Z.SG) Mid term stock chart patterns for internet stock trading :
7- The Stock was resisted by a resistance line, identified by two points: 2.460 and 2.550, and is currently resisting at 2.148.
STX PAN OCEAN (S6Z.SG) Long term stock chart patterns for internet stock trading :
8- The Stock formed a 1.550 $ height triangle which was broken up at 1.980, target of the pattern is 3.530 which was broken down at 2.710, target of the pattern is 1.160.
Stock Trading Conclusion:
STX PAN OCEAN (S6Z.SG) was trading in a strong bearish wave, which is becoming stronger .
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 : 2.01, 2.04, 2.07, 2.15, 2.17, 2.24, 2.33, 3.20, 3.53.
Stock Support levels : 1.97, 1.96, 1.95, 1.94, 1.94, 1.91, 1.65, 1.24,.