Stock Technical indicators to notice in CGX ENERGY INC (Tier2) (OYL.V)
1- Last bullish trend was from 0.19 $ (11/8/2012) to 0.20 $ (11/9/2012) a 0.01 $ move 2- The current bearish trend started from 0.20 $ at 11/9/2012 and is currently trading at 0.19 $.
4- OYL.V current resistance level is at 0.19 which is the 100.00 % fibonacci retracement of the last 0.01 $ move.
5- According to ADX Indicator, the trend is currently 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.
CGX ENERGY INC (Tier2) (OYL.V) Short term stock chart patterns for internet stock trading :
6- The Stock is trading in a stock channel between 0.190 $ and 0.200 $.
CGX ENERGY INC (Tier2) (OYL.V) Mid term stock chart patterns for internet stock trading :
7- The Stock traded in a bearish stock channel identifed by support at 0.220 and 0.230,resistance between 0.240 and 0.250 which was broken down at 0.200 in higher than usual volume.
CGX ENERGY INC (Tier2) (OYL.V) Long term stock chart patterns for internet stock trading :
8- The Stock formed a 0.160 $ height triangle which was broken up at 0.190 in higher than usual volume, target of the pattern is 0.350 which was broken down at 0.230 in higher than usual volume, target of the pattern is 0.070.
Stock Trading Conclusion:
CGX ENERGY INC (Tier2) (OYL.V) was trading in a 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 : 0.192, 0.194, 0.195, 0.196, 0.198, 0.200, 0.202, 0.240, 0.270, 0.350.
Stock Support levels : 0.187, 0.184, 0.179,.
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