Today we'll analyze the Stock SYNP for online market trading,
Technical indicators to notice:
1- Last bearish trend was from 5.55$ (02/29/08) to 5.10$ (03/04/08) a 0.45$ move
2- The current bullish trend started from 5.10$ at 03/04/08 and is currently trading at 5.32$.
3- The stock current support level is at 5.27 which is the 38.20% fibonacci retracement of the last 0.45$ move.
4- The stock current resistance level is at 5.32 which is the 50.00% fibonacci retracement of the last 0.45$ move.
5- According to ADX, the trend is currently strong 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.
Short term chart patterns :
6- The Stock was supported by a support line, identified by two points: 5.1 and 4.2 that was broken down at 5.12 transforming into a resistance line.
Mid term chart patterns :
None.
Long term chart patterns :
7- The Stock was resisted by a resistance line, identified by two points: 5.18 and 5.87 that was broken up at 4.6 transforming into a supporting line.
Conclusion:
SYNP was trading in a strong bullish wave, which is becoming stronger .
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.
.
Resistance Levels: 5.32, 5.38, 5.55, 5.67, 5.83, 6.30.
Support Levels: 5.27, 5.27, 5.24, 5.21, 5.21, 5.18, 5.10,.
We Moved!!
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Friday, March 21, 2008
Synplicity, Inc. (SYNP) Technical Analysis
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Shadi
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