Today we'll analyze the Stock bsc for online market trading,
Technical indicators to notice:
1- Last bullish trend was from 80.67$ (02/08/08) to 85.16$ (02/22/08) a 4.49$ move
2- The current bearish trend started from 85.16$ at 02/22/08 and is currently trading at 30.00$.
3- The Stock formed a 20.5$ height triangle which was broken down at 82.79 in higher than usual volume, target of the pattern is 62.29.
4- According to ADX, the trend is currently strong bearish, which is getting stronger.furthermore, the ADX location between DMI+ and DMI- is hinting on a strong move ahead. the stock is very volatile at this point.
Conclusion:
bsc is currently trading a strong bearish wave, which is becoming stronger .
Technical indicators and chart patterns show highly volatile movements favoriting bearish direction,
recommend hedging long positions or entering short position or bearish spread options strategy , because of the high expected future volatility, consider constructing symmetrical options strategies for buying volatility through strangles or straddles.
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Resistance Levels: 117.41, 43.02, 51.07, 57.58, 64.09, 85.16, 94.47.
Support Levels: .
We Moved!!
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Shadi
Tuesday, March 18, 2008
The Bear Stearns Companies Inc. (BSC) Technical analysis
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Shadi
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