Today we will analyze the stock MAG MINING FPO (MGU.AX) for internet stock trading in the AX stock market,
Stock Technical indicators to notice in MAG MINING FPO (MGU.AX)
1- Last bullish trend was from 0.05 $ (1/30/2012) to 0.06 $ (2/1/2012) a 0.01 $ move 2- The current bearish trend started from 0.06 $ at 2/1/2012 and is currently trading at 0.05 $.
3- MGU.AX current support level is at 0.05 which is the 127.20 % fibonacci retracement of the last 0.01 $ move.
4- MGU.AX current resistance level is at 0.05 which is the 100.00 % fibonacci retracement of the last 0.01 $ move.
5- According to ADX Indicator, the trend is currently strong bearish, which is getting stronger.
MAG MINING FPO (MGU.AX) Short term stock chart patterns for internet stock trading :

6- The Stock is trading in a stock channel between 0.050 $ and 0.060 $.

MAG MINING FPO (MGU.AX) Mid term stock chart patterns for internet stock trading :

7- The Stock is trading in a stock channel between 0.050 $ and 0.060 $.

MAG MINING FPO (MGU.AX) Long term stock chart patterns for internet stock trading :

8- The Stock is trading in a stock channel between 0.050 $ and 0.060 $.


Stock Trading Conclusion:
MAG MINING FPO (MGU.AX) was trading in a strong bearish wave, which is becoming stronger .
Technical indicators and stock chart patterns show no favorited direction,
recommend hold or waiting for entry .

Stock Resistance Levels : 0.052, 0.054, 0.055, 0.056, 0.058, 0.060,.
Stock Support levels : 0.047,.