Today we'll analyze the Stock noec for online market trading,
Technical indicators to notice:
1- Last bullish trend was from 5.30$ (03/03/08) to 6.00$ (03/05/08) a 0.70$ move
2- The current bearish trend started from 6.00$ at 03/05/08 and is currently trading at 4.76$.
3- The Stock formed Double Bottom Pattern at 5.3 that failed and formed a resistance.
4- The Stock formed a 0.93$ height triangle which was broken down at 5.3, target of the pattern is 4.37.
5- According to ADX, the trend is currently bearish,which is becoming weaker.
Conclusion:
noec is currently trading a bearish wave, which is becoming weaker .
Technical indicators and chart patterns show bearish direction,
recommend hedging long positions or entering short position or bearish spread options strategy .
Resistance Levels: 5.05, 5.23, 5.31, 5.31, 5.38, 5.53, 6.00.
Support Levels: 4.37,.
We Moved!!
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Shadi
Tuesday, March 18, 2008
New Oriental Energy & Chemical Corp. (NOEC) Technical analysis
That's all for today ... thanks for reading the post,
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have a nice day,
Shadi
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