Stock Technical indicators to notice in SUMITOMO EL IND (SMO.SG)
1- Last bullish trend was from 10.76 $ (2/20/2014) to 11.50 $ (2/28/2014) a 0.74 $ move 2- The current bearish trend started from 11.50 $ at 2/28/2014 and is currently trading at 10.76 $.
4- SMO.SG current resistance level is at 10.76 which is the 100.00 % fibonacci retracement of the last 0.74 $ move.
5- According to ADX Indicator, the trend is currently bearish,which is becoming weaker.
SUMITOMO EL IND (SMO.SG) Short term stock chart patterns for internet stock trading :
SUMITOMO EL IND (SMO.SG) Mid term stock chart patterns for internet stock trading :
6- The Stock was resisted by a resistance line, identified by two points: 11.500 and 11.970, and is currently resisting at 11.372.
SUMITOMO EL IND (SMO.SG) Long term stock chart patterns for internet stock trading :
7- The Stock traded in a bullish stock channel identifed by support at 9.190 and 8.600,resistance between 12.500 and 10.280 which was broken down at 11.660.
Stock Trading Conclusion:
SUMITOMO EL IND (SMO.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 : 10.93, 11.04, 11.13, 11.22, 11.33, 11.37, 11.50, 12.22.
Stock Support levels : 10.56,.