Stock Technical indicators to notice in SURGUTNEFT SP ADR (SGN.SG)
1- Last bullish trend was from 5.11 $ (3/4/2014) to 5.31 $ (3/7/2014) a 0.20 $ move 2- The current bearish trend started from 5.31 $ at 3/7/2014 and is currently trading at 5.11 $.
4- SGN.SG current resistance level is at 5.11 which is the 100.00 % fibonacci retracement of the last 0.20 $ move.
5- According to ADX Indicator, the trend is currently bearish, which is getting stronger.
SURGUTNEFT SP ADR (SGN.SG) Short term stock chart patterns for internet stock trading :
6- The Stock traded in a bearish stock channel identifed by support at 5.110 and 5.350,resistance between 5.310 and 5.590, the stock channel is currently supported from below by 4.990 and resisted from above by 5.275.
SURGUTNEFT SP ADR (SGN.SG) Mid term stock chart patterns for internet stock trading :
7- The Stock was resisted by a resistance line, identified by two points: 5.750 and 6.190, and is currently resisting at 5.510.
SURGUTNEFT SP ADR (SGN.SG) Long term stock chart patterns for internet stock trading :
8- The Stock was supported by a support line, identified by two points: 5.490 and 5.330 that was broken down at 5.780 transforming into a resistance line.
Stock Trading Conclusion:
SURGUTNEFT SP ADR (SGN.SG) was trading in a bearish wave, which is becoming stronger .
Technical indicators and stock chart patterns show bearish direction,
recommend hedging long positions or entering short position or bearish spread options strategy in online trading .
Stock Resistance Levels : 5.16, 5.19, 5.21, 5.23, 5.26, 5.31, 5.51, 5.87.
Stock Support levels : 5.06,.