Today we'll analyze the Stock cfc for online market trading,
Technical indicators to notice:
1- Last bullish trend was from 4.36$ (03/10/08) to 5.11$ (03/11/08) a 0.75$ move
2- The current bearish trend started from 5.11$ at 03/11/08 and is currently trading at 4.09$.
3- The stock current support level is at 3.90 which is the 161.80% fibonacci retracement of the last 0.75$ move.
4- The stock current resistance level is at 4.16 which is the 127.20% fibonacci retracement of the last 0.75$ move.
5- The Stock traded in a bearish channel identifed by support at 4.36 and 6.46, resistance between 5.11 and 7.08, the channel is currently supported from below by 3.90348 and resisted from above by 4.67222.
6- According to ADX, the trend is currently strong bearish, 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.
Conclusion:
cfc is currently trading a strong bearish wave, which is becoming stronger .
Technical indicators and chart patterns show highly volatile movements favoriting no favorited direction,
recommend hold or waiting for entry , 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: 4.16, 4.33, 4.36, 4.48, 4.60, 4.65, 4.72, 4.74, 4.82, 4.93, 5.11, 5.11, 7.43.
Support Levels: 3.90,.
Showing posts with label cfc. Show all posts
Showing posts with label cfc. Show all posts
Tuesday, March 18, 2008
Countrywide Financial Corporation ( CFC) Technical analysis
That's all for today ... thanks for reading the post,
come back soon for more updates,
use the search to lookup for more interesting stocks you might be interested in,
feel free to leave your comments on the post, or contact me
enjoy your online market trading!!
have a nice day,
Shadi
to get back to main page click here .
Friday, February 15, 2008
Countrywide Financial Corporation (CFC) Technical Analysis
Today we'll analyze Countrywide Financial Corporation (CFC) for online market trading,
1- the stock has been trading in a clear envelope since SEP 2008.
2- Bollinger bands are closing, volatility is lowering, as the stock price is "stuck".
3- double bottom at 4.78$.
4- since 1.feb.2008 we see the initiation of a support line (still not formed well).
5- the stock is very close to MA45 breakout.
we recommend a hold on this stock, a long will be initiated at the break of 7.4$ with target of 18.16$ (midrange).
That's all for today ... thanks for reading the post,
come back soon for more updates,
use the search to lookup for more interesting stocks you might be interested in,
feel free to leave your comments on the post, or contact me
enjoy your online market trading!!
have a nice day,
Shadi
to get back to main page click here .
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