Stock Technical indicators to notice in SILVER WHEATON (SII.SG)
1- Last bullish trend was from 18.44 $ (2/20/2014) to 19.17 $ (2/24/2014) a 0.73 $ move 2- The current bearish trend started from 19.17 $ at 2/24/2014 and is currently trading at 18.11 $.
4- SII.SG current resistance level is at 18.24 which is the 127.20 % fibonacci retracement of the last 0.73 $ move.
5- According to ADX Indicator, the trend is currently strong bullish,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.
SILVER WHEATON (SII.SG) Short term stock chart patterns for internet stock trading :
6- The Stock formed Double Top Pattern at 19.170 .
7- The Stock formed a 3.450 $ height triangle which was broken down at 18.760 in higher than usual volume, target of the pattern is 15.310.
SILVER WHEATON (SII.SG) Mid term stock chart patterns for internet stock trading :
8- The Stock was supported by a support line, identified by two points: 15.730 and 14.260, and is currently supporting at 17.384.
SILVER WHEATON (SII.SG) Long term stock chart patterns for internet stock trading :
9- The Stock was resisted by a resistance line, identified by two points: 17.970 and 21.370 that was broken up at 14.900 transforming into a supporting line.
Stock Trading Conclusion:
SILVER WHEATON (SII.SG) was trading in a strong bullish wave, which is becoming weaker .
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 : 18.24, 18.36, 18.44, 18.51, 18.64, 18.72, 18.77, 18.81, 18.89, 19.00, 19.09, 19.17, 21.12.
Stock Support levels : 17.99, 17.38, 15.80, 15.31,.