Stock Technical indicators to notice in SUMITOMO CHEM (SMM.SG)
1- Last bullish trend was from 2.90 $ (2/14/2014) to 3.01 $ (2/26/2014) a 0.11 $ move 2- The current bearish trend started from 3.01 $ at 2/26/2014 and is currently trading at 2.92 $.
4- SMM.SG current resistance level is at 2.94 which is the 61.80 % fibonacci retracement of the last 0.11 $ move.
5- According to ADX Indicator, the trend is currently bearish,which is becoming weaker.
SUMITOMO CHEM (SMM.SG) Short term stock chart patterns for internet stock trading :
6- The Stock formed a 0.200 $ height triangle which was broken down at 2.920, target of the pattern is 2.720.
SUMITOMO CHEM (SMM.SG) Mid term stock chart patterns for internet stock trading :
7- The Stock was supported by a support line, identified by two points: 2.850 and 2.780, and is currently supporting at 2.891.
SUMITOMO CHEM (SMM.SG) Long term stock chart patterns for internet stock trading :
8- The Stock traded in a bullish stock channel identifed by support at 2.580 and 2.260,resistance between 3.160 and 2.840, the stock channel is currently supported from below by 2.887 and resisted from above by 3.280.
Stock Trading Conclusion:
SUMITOMO CHEM (SMM.SG) was trading in a bearish 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 : 2.94, 2.94, 2.95, 2.95, 2.97, 2.97, 2.98, 2.98, 3.01, 3.03.
Stock Support levels : 2.90, 2.89, 2.87, 2.83,.