Stock Technical indicators to notice in SPLENDID MEDIEN (SPM.SG)
1- Last bullish trend was from 2.24 $ (2/10/2014) to 2.38 $ (2/25/2014) a 0.14 $ move 2- The current bearish trend started from 2.38 $ at 2/25/2014 and is currently trading at 2.27 $.
4- SPM.SG current resistance level is at 2.29 which is the 61.80 % fibonacci retracement of the last 0.14 $ move.
5- According to ADX Indicator, the trend is currently bullish,which is becoming weaker.
SPLENDID MEDIEN (SPM.SG) Short term stock chart patterns for internet stock trading :
6- The Stock formed Double Top Pattern at 2.380 .
SPLENDID MEDIEN (SPM.SG) Mid term stock chart patterns for internet stock trading :
7- The Stock traded in a bullish stock channel identifed by support at 2.240 and 2.100,resistance between 2.480 and 2.290 which was broken down at 2.270 in higher than usual volume.
SPLENDID MEDIEN (SPM.SG) Long term stock chart patterns for internet stock trading :
8- The Stock was resisted by a resistance line, identified by two points: 2.480 and 2.900, and is currently resisting at 2.408.
Stock Trading Conclusion:
SPLENDID MEDIEN (SPM.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 : 2.29, 2.29, 2.30, 2.31, 2.31, 2.33, 2.33, 2.34, 2.35, 2.38, 2.41.
Stock Support levels : 2.26, 2.24, 2.20,.