Today we'll analyze the Stock NCC for online market trading,
Technical indicators to notice:
1- Last bullish trend was from 16.25$ (02/08/08) to 16.85$ (02/22/08) a 0.60$ move
2- The current bearish trend started from 16.85$ at 02/22/08 and is currently trading at 8.99$.
3- According to ADX, the trend is currently strong bearish, which is getting stronger.
Short term chart patterns :
4- The Stock formed a 3.65$ height triangle which was broken down at 16.42, target of the pattern is 12.77.
Mid term chart patterns :
5- The Stock was resisted by a resistance line, identified by two points: 17.98 and 25.95, and is currently resisting at 13.7606.
Long term chart patterns :
6- The Stock traded in a bearish channel identifed by support at 14.29 and 26.4, resistance between 17.98 and 28.79, the channel is currently supported from below by 7.13409 and resisted from above by 13.9262.
Conclusion:
NCC was trading in a strong bearish wave, which is becoming stronger .
Technical indicators and chart patterns show bearish direction,
recommend hedging long positions or entering short position or bearish spread options strategy .
Resistance Levels: 10.84, 11.99, 12.92, 13.76, 13.85, 16.85, 21.37, 36.05, 36.19.
Support Levels: .
We Moved!!
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Monday, April 7, 2008
National City Corporation (NCC) 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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