Stock Technical indicators to notice in Canada Bread Company Ltd (CBY)
1- Last bullish trend was from 34.23 $ (6/17/2009) to 35.72 $ (6/19/2009) a 1.49 $ move 2- The current bearish trend started from 35.72 $ at 6/19/2009 and is currently trading at 34.66 $.
4- CBY current resistance level is at 34.80 which is the 61.80 % fibonacci retracement of the last 1.49 $ move.
5- According to ADX Indicator, the trend is currently bearish,which is becoming weaker.
Canada Bread Company Ltd (CBY) Short term stock chart patterns for internet stock trading :
6- The Stock formed a 7.210 $ height triangle which was broken down at 34.630, target of the pattern is 27.420.
Canada Bread Company Ltd (CBY) Mid term stock chart patterns for internet stock trading :
7- The Stock was resisted by a resistance line, identified by two points: 31.760 and 31.970 that was broken up at 31.220 transforming into a supporting line.
Canada Bread Company Ltd (CBY) Long term stock chart patterns for internet stock trading :
8- The Stock formed a 9.120 $ height triangle which was broken up at 29.760, target of the pattern is 38.880.
Stock Trading Conclusion:
Canada Bread Company Ltd (CBY) was trading in a bearish wave, which is becoming weaker .
Technical indicators and stock chart patterns show bullish direction,
recommend stopping short positions or entering long position or bullish spread options strategy in online trading .
Stock Resistance Levels : 34.80, 34.91, 34.97, 35.06, 35.15, 35.19, 35.32, 35.37, 35.72, 35.77, 38.88.
Stock Support levels : 34.23, 33.82, 33.31, 29.56, 27.42,.
