Stock Technical indicators to notice in SCOT and STHN ENERGY (SCT.SG)
1- Last bearish trend was from 17.64 $ (2/27/2014) to 16.75 $ (3/4/2014) a 0.89 $ move 2- The current bullish trend started from 16.75 $ at 3/4/2014 and is currently trading at 17.19 $.
4- SCT.SG current resistance level is at 17.19 which is the 50.00 % fibonacci retracement of the last 0.89 $ move.
5- According to ADX Indicator, the trend is currently strong bullish, 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.
SCOT and STHN ENERGY (SCT.SG) Short term stock chart patterns for internet stock trading :
6- The Stock traded in a bullish stock channel identifed by support at 16.750 and 15.640,resistance between 17.640 and 16.380, the stock channel is currently supported from below by 16.921 and resisted from above by 17.979.
SCOT and STHN ENERGY (SCT.SG) Mid term stock chart patterns for internet stock trading :
7- The Stock formed a 3.540 $ height triangle which was broken up at 16.430, target of the pattern is 19.970.
SCOT and STHN ENERGY (SCT.SG) Long term stock chart patterns for internet stock trading :
8- The Stock was resisted by a resistance line, identified by two points: 19.250 and 19.450, and is currently resisting at 18.505.
Stock Trading Conclusion:
SCOT and STHN ENERGY (SCT.SG) was trading in a strong bullish 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 : 17.19, 17.30, 17.64, 17.88, 18.19, 18.50, 19.97.
Stock Support levels : 17.09, 17.09, 17.02, 16.97, 16.96, 16.92, 16.75,.