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 5.31 $ (7/19/2010) to 6.08 $ (8/17/2010) a 0.77 $ move 2- The current bearish trend started from 6.08 $ at 8/17/2010 and is currently trading at 5.96 $.
3- FRD current support level is at 5.90 which is the 23.60 % fibonacci retracement of the last 0.77 $ move.
4- FRD current resistance level is at 6.08 which is the 0.00 % fibonacci retracement of the last 0.77 $ move.
5- According to ADX Indicator, the trend is currently bullish, which is getting stronger.furthermore, the ADX indicator location between DMI+ and DMI- is hinting on a strong move ahead. the stock is very volatile at this point.
6- Bullish Divergance in MACD Indicator .
Friedman Industries Inc. (FRD) Short term stock chart patterns for internet stock trading :

7- The Stock formed Double Bottom Pattern at 5.310 .
Friedman Industries Inc. (FRD) Mid term stock chart patterns for internet stock trading :

8- The Stock formed Double Bottom Pattern at 5.310 .
Friedman Industries Inc. (FRD) Long term stock chart patterns for internet stock trading :

None.

Stock Trading Conclusion:
Friedman Industries Inc. (FRD) was trading in a bullish wave, which is becoming stronger .
Technical indicators and stock chart patterns show highly volatile movements favoriting bullish direction,
recommend stopping short positions or entering long position or bullish spread options strategy in online trading , because of the high expected future volatility, consider constructing symmetrical options strategies for buying volatility through strangles or straddles in online trading. .

Stock Resistance Levels : 5.99, 6.01, 6.02, 6.03, 6.08,.
Stock Support levels : 5.90, 5.79, 5.69, 5.60, 5.31, 5.10,.