Stock Technical indicators to notice in SMARTRAC (SM7.SG)
1- Last bearish trend was from 10.69 $ (4/5/2013) to 10.15 $ (4/26/2013) a 0.54 $ move 2- The current bullish trend started from 10.15 $ at 4/26/2013 and is currently trading at 10.45 $.
4- SM7.SG current resistance level is at 10.48 which is the 61.80 % fibonacci retracement of the last 0.54 $ move.
5- According to ADX Indicator, the trend is currently bullish,which is becoming weaker.
6- Bearish Divergance in MACD Indicator .
SMARTRAC (SM7.SG) Short term stock chart patterns for internet stock trading :
7- The Stock formed a 0.850 $ height triangle.
SMARTRAC (SM7.SG) Mid term stock chart patterns for internet stock trading :
8- The Stock formed a 1.050 $ height triangle.
SMARTRAC (SM7.SG) Long term stock chart patterns for internet stock trading :
9- The Stock formed Double Top Pattern at 11.000 .
10- The Stock formed a 2.070 $ height triangle which was broken down at 10.250, target of the pattern is 8.180.
Stock Trading Conclusion:
SMARTRAC (SM7.SG) was trading in a bullish wave, which is becoming weaker .
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 : 10.48, 10.69, 10.84, 11.02, 11.07, 12.39.
Stock Support levels : 10.42, 10.38, 10.36, 10.34, 10.30, 10.28, 10.26, 10.15,.