Advantage Energy Income Fund (AAV) Technical Analysis

Today we'll analyze the Stock AAV for online market trading,
Technical indicators to notice:
1- Last bearish trend was from 11.12$ (03/14/08) to 10.44$ (03/20/08) a 0.68$ move
2- The current bullish trend started from 10.44$ at 03/20/08 and is currently trading at 12.29$.

3- According to ADX, the trend is currently 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 :

None.
Mid term chart patterns :

4- The Stock was supported by a support line, identified by two points: 10.44 and 8.31, and is currently supporting at 11.3985.
Long term chart patterns :

5- The Stock was resisted by a resistance line, identified by two points: 9.52 and 11.94 that was broken up at 9 transforming into a supporting line.

Conclusion:
AAV was trading in a 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: 14.27.
Support Levels: 11.85, 11.58, 11.40, 11.36, 11.15, 10.44, 10.21, 10.14, 10.07, 10.00, 9.93, 9.86, 9.26, 9.25, 9.25, 9.13, 9.08,.