Today we will analyze the stock PROGEN FPO (PGL.AX) for internet stock trading in the AX stock market,
Stock Technical indicators to notice in PROGEN FPO (PGL.AX)
1- Last bearish trend was from 0.20 $ (4/27/2012) to 0.17 $ (5/2/2012) a 0.03 $ move 2- The current bullish trend started from 0.17 $ at 5/2/2012 and is currently trading at 0.19 $.
3- PGL.AX current support level is at 0.19 which is the 61.80 % fibonacci retracement of the last 0.03 $ move.
4- PGL.AX current resistance level is at 0.20 which is the 100.00 % fibonacci retracement of the last 0.03 $ move.
5- According to ADX Indicator, the trend is currently bearish,which is becoming weaker.
PROGEN FPO (PGL.AX) Short term stock chart patterns for internet stock trading :

6- The Stock was resisted by a resistance line, identified by two points: 0.200 and 0.210, and is currently resisting at 0.195.
PROGEN FPO (PGL.AX) Mid term stock chart patterns for internet stock trading :

7- The Stock was resisted by a resistance line, identified by two points: 0.210 and 0.270 that was broken up at 0.190 transforming into a supporting line.
PROGEN FPO (PGL.AX) Long term stock chart patterns for internet stock trading :

8- The Stock was resisted by a resistance line, identified by two points: 0.210 and 0.270 that was broken up at 0.190 transforming into a supporting line.

Stock Trading Conclusion:
PROGEN FPO (PGL.AX) was trading in a bearish wave, which is becoming weaker .
Technical indicators and stock chart patterns show bullish direction,
recommend stopping short positions or entering long position or bullish spread options strategy in online trading .

Stock Resistance Levels : 0.195, 0.200, 0.208, 0.210, 0.219.
Stock Support levels : 0.189, 0.185, 0.185, 0.183, 0.182, 0.181, 0.180, 0.178, 0.177, 0.170,.