Stock Technical indicators to notice in SCM MICROSYSTEMS (SMY.SG)
1- Last bullish trend was from 1.62 $ (12/30/2009) to 1.70 $ (1/6/2010) a 0.08 $ move 2- The current bearish trend started from 1.70 $ at 1/6/2010 and is currently trading at 1.62 $.
4- SMY.SG current resistance level is at 1.62 which is the 100.00 % fibonacci retracement of the last 0.08 $ move.
5- According to ADX Indicator, the trend is currently bearish, which is getting stronger.
SCM MICROSYSTEMS (SMY.SG) Short term stock chart patterns for internet stock trading :
6- The Stock was resisted by a resistance line, identified by two points: 1.700 and 1.720, and is currently resisting at 1.685.
SCM MICROSYSTEMS (SMY.SG) Mid term stock chart patterns for internet stock trading :
7- The Stock formed a 0.410 $ height triangle which was broken down at 1.740, target of the pattern is 1.330.
SCM MICROSYSTEMS (SMY.SG) Long term stock chart patterns for internet stock trading :
8- The Stock formed a 0.410 $ height triangle which was broken down at 1.740, target of the pattern is 1.330.
Stock Trading Conclusion:
SCM MICROSYSTEMS (SMY.SG) was trading in a bearish wave, which is becoming stronger .
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 : 1.64, 1.65, 1.66, 1.66, 1.67, 1.68, 1.69, 1.70, 1.83,.
Stock Support levels : 1.60, 1.57, 1.33,.
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