Today we'll analyze the Stock kex for online market trading,
Technical indicators to notice:
1- Last bearish trend was from 47.21$ (03/11/08) to 44.50$ (03/17/08) a 2.71$ move
2- The current bullish trend started from 44.50$ at 03/17/08 and is currently trading at 51.29$.
3- The Stock formed Double Top Pattern at 47.21 that failed, and formed a support .
4- The Stock was resisted by a resistance line, identified by two points: 47.21 and 47.28 that was broken up at 52.26 transforming into a supporting line.
5- According to ADX, the trend is currently bullish, 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:
kex is currently trading a bullish wave, which is becoming stronger .
Technical indicators and chart patterns show highly volatile movements favoriting bullish direction,
recommend stopping short positions or entering long position or bullish 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: .
Support Levels: 49.69, 48.70, 47.90, 47.10, 47.10, 47.09, 44.50,.
We Moved!!
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Thursday, March 20, 2008
Kirby Corporation (KEX) Technical Analysis
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Shadi
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