Stock Technical indicators to notice in ABERDEEN SCOTS TRU TRUST UNITS (SCO-UN.TO)
1- Last bullish trend was from 22.73 $ (2/23/2009) to 23.76 $ (3/31/2009) a 1.03 $ move 2- The current bearish trend started from 23.76 $ at 3/31/2009 and is currently trading at 23.31 $.
4- SCO-UN.TO current resistance level is at 23.37 which is the 38.20 % fibonacci retracement of the last 1.03 $ move.
5- According to ADX Indicator, the trend is currently strong bearish,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.
ABERDEEN SCOTS TRU TRUST UNITS (SCO-UN.TO) Short term stock chart patterns for internet stock trading :
6- The Stock formed Double Top Pattern at 23.760 .
7- The Stock formed a 2.690 $ height triangle which was broken down at 22.980 in higher than usual volume, target of the pattern is 20.290.
ABERDEEN SCOTS TRU TRUST UNITS (SCO-UN.TO) Mid term stock chart patterns for internet stock trading :
None.
ABERDEEN SCOTS TRU TRUST UNITS (SCO-UN.TO) Long term stock chart patterns for internet stock trading :
None.
Stock Trading Conclusion:
ABERDEEN SCOTS TRU TRUST UNITS (SCO-UN.TO) was trading in a strong bearish 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 : 23.37, 23.42, 23.48, 23.52, 23.53, 23.59, 23.76, 23.99, 23.99, 24.00, 33.41.
Stock Support levels : 23.24, 23.12, 22.73, 22.45, 22.09,.
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