Stock Technical indicators to notice in MINEFINDERS CORP COM NPV (MFL.TO)
1- Last bullish trend was from 8.53 $ (7/27/2010) to 9.84 $ (8/31/2010) a 1.31 $ move 2- The current bearish trend started from 9.84 $ at 8/31/2010 and is currently trading at 9.52 $.
4- MFL.TO current resistance level is at 9.53 which is the 23.60 % fibonacci retracement of the last 1.31 $ move.
5- According to ADX Indicator, the trend is currently bullish, 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.
MINEFINDERS CORP COM NPV (MFL.TO) Short term stock chart patterns for internet stock trading :
None.
MINEFINDERS CORP COM NPV (MFL.TO) Mid term stock chart patterns for internet stock trading :
6- The Stock was resisted by a resistance line, identified by two points: 9.830 and 10.400 that was broken up at 8.830 transforming into a supporting line.
MINEFINDERS CORP COM NPV (MFL.TO) Long term stock chart patterns for internet stock trading :
7- The Stock was resisted by a resistance line, identified by two points: 9.830 and 10.400 that was broken up at 8.830 transforming into a supporting line.
Stock Trading Conclusion:
MINEFINDERS CORP COM NPV (MFL.TO) was trading in a bullish wave, which is becoming stronger .
Technical indicators and stock chart patterns show highly volatile movements favoriting bullish direction,
recommend stopping short positions or entering long position or bullish 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 : 9.53, 9.60, 9.64, 9.68, 9.72, 9.84,.
Stock Support levels : 9.34, 9.18, 9.03, 8.53, 8.17, 7.73,.
