Today we'll analyze the Stock EPIX for online market trading,
Technical indicators to notice:
1- Last bullish trend was from 2.96$ (02/08/08) to 3.10$ (02/15/08) a 0.14$ move
2- The current bearish trend started from 3.10$ at 02/15/08 and is currently trading at 1.43$.
3- According to ADX, the trend is currently 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 supported by a support line, identified by two points: 2.96 and 2.85 that was broken down at 3.05 transforming into a resistance line.
Mid term chart patterns :
5- The Stock was resisted by a resistance line, identified by two points: 3.1 and 3.98, and is currently resisting at 2.47143.
Long term chart patterns :
6- The Stock was resisted by a resistance line, identified by two points: 3.98 and 4.49, and is currently resisting at 3.5975.
Conclusion:
EPIX was trading in a bearish wave, which is becoming weaker .
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: 1.82, 2.07, 2.26, 2.46, 2.47, 3.10, 3.29, 3.60.
Support Levels: .
We Moved!!
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Friday, March 21, 2008
EPIX Pharmaceuticals, Inc. (EPIX) Technical Analysis
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Shadi
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