NRG Energy, Inc. (NRG) Technical Analysis

Today we'll analyze the Stock nrg for online market trading,
Technical indicators to notice:
1- Last bullish trend was from 37.78$ (02/08/08) to 42.21$ (03/07/08) a 4.43$ move
2- The current bearish trend started from 42.21$ at 03/07/08 and is currently trading at 39.00$.

3- The stock current support level is at 37.78 which is the 100.00% fibonacci retracement of the last 4.43$ move.
4- The stock current resistance level is at 39.47 which is the 61.80% fibonacci retracement of the last 4.43$ move.
5- The Stock was supported by a support line, identified by two points: 37.78 and 37.48, and is currently supporting at 38.38.
6- According to ADX, the trend is currently bearish,which is becoming weaker.furthermore, the ADX location between DMI+ and DMI- is hinting on a strong move ahead. the stock is very volatile at this point.
7- Bearish Divergance in MACD.

Conclusion:
nrg is currently trading a bearish wave, which is becoming weaker .
Technical indicators and chart patterns show highly volatile movements favoriting bearish direction,
recommend hedging long positions or entering short position or bearish 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: 39.43, 39.47, 39.76, 39.99, 40.23, 40.52, 40.60, 40.98, 41.16, 42.21, 42.21, 43.13.
Support Levels: 38.38, 37.78, 36.58, 35.04, 36.89.