Today we'll analyze the Stock EVGY for online market trading,
Technical indicators to notice:
1- Last bearish trend was from 3.38$ (03/14/08) to 3.20$ (03/28/08) a 0.18$ move
2- The current bullish trend started from 3.20$ at 03/28/08 and is currently trading at 4.60$.
3- 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 :
4- The Stock was supported by a support line, identified by two points: 3.2 and 2.8, and is currently supporting at 3.28.
Mid term chart patterns :
5- The Stock was resisted by a resistance line, identified by two points: 3.3 and 3.6 that was broken up at 2.93 transforming into a supporting line.
Long term chart patterns :
6- The Stock was resisted by a resistance line, identified by two points: 3.3 and 3.6 that was broken up at 2.93 transforming into a supporting line.
Conclusion:
EVGY was trading in a strong 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: 5.00.
Support Levels: 4.27, 4.07, 3.90, 3.73, 3.40, 3.28, 3.20, 2.90, 2.40,.
We Moved!!
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Shadi
Monday, April 7, 2008
Ever-Glory International Group, Inc. (EVGY) Technical Analysis
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Shadi
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