Stock Technical indicators to notice in SUN HUNG KAI PTIES (SHG.SG)
1- Last bullish trend was from 7.74 $ (2/6/2014) to 8.22 $ (2/21/2014) a 0.48 $ move 2- The current bearish trend started from 8.22 $ at 2/21/2014 and is currently trading at 7.60 $.
4- SHG.SG current resistance level is at 7.61 which is the 127.20 % fibonacci retracement of the last 0.48 $ 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.
SUN HUNG KAI PTIES (SHG.SG) Short term stock chart patterns for internet stock trading :
6- The Stock was resisted by a resistance line, identified by two points: 8.220 and 9.320, and is currently resisting at 7.670.
SUN HUNG KAI PTIES (SHG.SG) Mid term stock chart patterns for internet stock trading :
7- The Stock formed a 2.630 $ height triangle which was broken down at 7.890, target of the pattern is 5.260.
SUN HUNG KAI PTIES (SHG.SG) Long term stock chart patterns for internet stock trading :
8- The Stock was supported by a support line, identified by two points: 6.970 and 6.910, and is currently supporting at 7.029.
Stock Trading Conclusion:
SUN HUNG KAI PTIES (SHG.SG) was trading in a strong bearish wave, which is becoming stronger .
Technical indicators and stock chart patterns show highly volatile movements favoriting bearish direction,
recommend hedging long positions or entering short position or bearish 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 : 7.61, 7.67, 7.74, 7.75, 7.84, 7.91, 7.92, 7.97, 7.98, 7.98, 8.04, 8.11, 8.22,.
Stock Support levels : 7.44, 7.03,.