Stock Technical indicators to notice in COMPUGEN (CGEN.TA)
1- Last bullish trend was from 1,723.00 $ (12/20/2011) to 2,183.00 $ (1/17/2012) a 460.00 $ move 2- The current bearish trend started from 2,183.00 $ at 1/17/2012 and is currently trading at 1,949.00 $.
4- CGEN.TA current resistance level is at 1,953.00 which is the 50.00 % fibonacci retracement of the last 460.00 $ move.
5- According to ADX Indicator, the trend is currently bullish,which is becoming weaker.furthermore, the ADX indicator location between DMI+ and DMI- is hinting on a strong move ahead. the stock is very volatile at this point.
COMPUGEN (CGEN.TA) Short term stock chart patterns for internet stock trading :
6- The Stock was supported by a support line, identified by two points: 1,723.000 and 1,460.000 that was broken down at 1,965.000 transforming into a resistance line.
COMPUGEN (CGEN.TA) Mid term stock chart patterns for internet stock trading :
None.
COMPUGEN (CGEN.TA) Long term stock chart patterns for internet stock trading :
7- The Stock was supported by a support line, identified by two points: 1,460.000 and 1,233.000, and is currently supporting at 1,781.583.
Stock Trading Conclusion:
COMPUGEN (CGEN.TA) was trading in a bullish wave, which is becoming weaker .
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 : 1,953.00, 1,996.52, 2,004.22, 2,007.28, 2,038.39, 2,066.00, 2,074.44, 2,093.61, 2,183.00,.
Stock Support levels : 1,898.72, 1,781.58, 1,723.00, 1,597.88,.
