Today we'll analyze the Stock CFSG for online market trading,
Technical indicators to notice:
1- Last bullish trend was from 10.41$ (02/08/08) to 12.50$ (02/15/08) a 2.09$ move
2- The current bearish trend started from 12.50$ at 02/15/08 and is currently trading at 5.96$.
3- According to ADX, the trend is currently strong bearish,which is becoming weaker.furthermore, the ADX location between DMI+ and DMI- is hinting on a strong move ahead. the stock is very volatile at this point.
Short term chart patterns :
4- The Stock was resisted by a resistance line, identified by two points: 12.5 and 12.59, and is currently resisting at 12.428.
Mid term chart patterns :
5- The Stock was resisted by a resistance line, identified by two points: 12.5 and 15.2, and is currently resisting at 11.42.
Long term chart patterns :
6- The Stock was resisted by a resistance line, identified by two points: 12.5 and 15.2, and is currently resisting at 11.42.
Conclusion:
CFSG was trading in a strong bearish wave, which is becoming weaker .
Technical indicators and chart patterns show highly volatile movements favoriting no favorited direction,
recommend hold or waiting for entry , 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: 7.50, 8.46, 9.23, 10.00, 11.42, 12.43, 12.50.
Support Levels: .
We Moved!!
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Monday, March 24, 2008
China Fire & Security Group, Inc.(CFSG) Technical Analysis
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Shadi
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