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Tuesday, April 1, 2008

Patriot Scientific Corporation (PTSC) Technical Analysis

Today we'll analyze the Stock PTSC for online market trading,
Technical indicators to notice:
1- Last bearish trend was from 0.71$ (12/14/07) to 0.37$ (02/22/08) a 0.34$ move
2- The current bullish trend started from 0.37$ at 02/22/08 and is currently trading at 0.52$.

3- The stock current support level is at 0.50 which is the 38.20% fibonacci retracement of the last 0.34$ move.
4- The stock current resistance level is at 0.54 which is the 50.00% fibonacci retracement of the last 0.34$ move.
5- According to ADX, the trend is currently bullish, which is getting stronger.
6- Bearish Divergance in MACD.
Short term chart patterns :
None.
Mid term chart patterns :
None.
Long term chart patterns :
None.

Conclusion:
PTSC was trading in a bullish 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: 0.540, 0.580, 0.710, 0.802, 0.920.
Support Levels: 0.500, 0.485, 0.463, 0.450, 0.445, 0.427, 0.370,.


That's all for today ... thanks for reading the post,
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have a nice day,

Shadi
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Google
 

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Stock Search
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Shadi