Today we will analyze the stock Friedman Industries Inc. (FRD) for internet stock trading in the AMEX stock market,
Stock Technical indicators to notice in Friedman Industries Inc. (FRD)
1- Last bullish trend was from 10.45 $ (1/31/2012) to 10.94 $ (2/1/2012) a 0.49 $ move 2- The current bearish trend started from 10.94 $ at 2/1/2012 and is currently trading at 10.76 $.
3- FRD current support level is at 10.75 which is the 38.20 % fibonacci retracement of the last 0.49 $ move.
4- FRD current resistance level is at 10.82 which is the 23.60 % fibonacci retracement of the last 0.49 $ move.
5- According to ADX Indicator, the trend is currently bullish,which is becoming weaker.
Friedman Industries Inc. (FRD) Short term stock chart patterns for internet stock trading :

6- The Stock formed Double Bottom Pattern at 10.450 .
7- The Stock formed a 1.840 $ height triangle.
Friedman Industries Inc. (FRD) Mid term stock chart patterns for internet stock trading :

8- The Stock was supported by a support line, identified by two points: 10.100 and 7.760 that was broken down at 11.890 transforming into a resistance line.
Friedman Industries Inc. (FRD) Long term stock chart patterns for internet stock trading :

9- The Stock was supported by a support line, identified by two points: 10.100 and 7.760 that was broken down at 11.890 transforming into a resistance line.

Stock Trading Conclusion:
Friedman Industries Inc. (FRD) was trading in a bullish wave, which is becoming weaker .
Technical indicators and stock chart patterns show no favorited direction,
recommend hold or waiting for entry .

Stock Resistance Levels : 10.80, 10.82, 10.83, 10.85, 10.87, 10.94, 13.22,.
Stock Support levels : 10.75, 10.69, 10.64, 10.45, 10.45, 10.32,.