Stock Technical indicators to notice in ADUMIM CHEMS (ADUM-M.TA)
1- Last bearish trend was from 313.00 $ (4/3/2012) to 260.00 $ (5/2/2012) a 53.00 $ move 2- The current bullish trend started from 260.00 $ at 5/2/2012 and is currently trading at 281.40 $.
4- ADUM-M.TA current resistance level is at 286.50 which is the 50.00 % fibonacci retracement of the last 53.00 $ move.
5- According to ADX Indicator, the trend is currently strong bearish, which is getting stronger.furthermore, the ADX indicator location between DMI+ and DMI- is hinting on a strong move ahead. the stock is very volatile at this point.
ADUMIM CHEMS (ADUM-M.TA) Short term stock chart patterns for internet stock trading :
6- The Stock was resisted by a resistance line, identified by two points: 313.000 and 333.200 that was broken up at 281.400 transforming into a supporting line.
ADUMIM CHEMS (ADUM-M.TA) Mid term stock chart patterns for internet stock trading :
7- The Stock formed Double Top Pattern at 359.000 .
ADUMIM CHEMS (ADUM-M.TA) Long term stock chart patterns for internet stock trading :
8- The Stock traded in a bullish stock channel identifed by support at 277.000 and 230.000,resistance between 360.000 and 327.300 which was broken down at 330.000.
Stock Trading Conclusion:
ADUMIM CHEMS (ADUM-M.TA) was trading in a strong bearish wave, which is becoming stronger .
Technical indicators and stock chart patterns show highly volatile movements favoriting bearish direction,
recommend hedging long positions or entering short position or bearish spread options strategy in online trading , because of the high expected future volatility, consider constructing symmetrical options strategies for buying volatility through strangles or straddles in online trading. .
Stock Resistance Levels : 286.50, 292.75, 313.00, 327.42, 345.75, 355.22, 389.80.
Stock Support levels : 280.25, 276.35, 273.23, 272.51, 270.70, 268.17, 262.50, 260.00,.
