Today we will analyze the stock PETROLEUM DEVELOPMT (PD3.BE) for internet stock trading in the BE stock market,
Stock Technical indicators to notice in PETROLEUM DEVELOPMT (PD3.BE)
1- Last bullish trend was from 30.72 $ (3/17/2011) to 34.17 $ (3/24/2011) a 3.45 $ move 2- The current bearish trend started from 34.17 $ at 3/24/2011 and is currently trading at 31.82 $.
3- PD3.BE current support level is at 30.72 which is the 100.00 % fibonacci retracement of the last 3.45 $ move.
4- PD3.BE current resistance level is at 32.04 which is the 61.80 % fibonacci retracement of the last 3.45 $ move.
5- According to ADX Indicator, the trend is currently bearish,which is becoming weaker.
PETROLEUM DEVELOPMT (PD3.BE) Short term stock chart patterns for internet stock trading :

6- The Stock formed a 5.650 $ height triangle.
PETROLEUM DEVELOPMT (PD3.BE) Mid term stock chart patterns for internet stock trading :

7- The Stock formed a 5.650 $ height triangle.
PETROLEUM DEVELOPMT (PD3.BE) Long term stock chart patterns for internet stock trading :

8- The Stock was supported by a support line, identified by two points: 30.720 and 23.490 that was broken down at 31.820 transforming into a resistance line.

Stock Trading Conclusion:
PETROLEUM DEVELOPMT (PD3.BE) was trading in a bearish wave, which is becoming weaker .
Technical indicators and stock chart patterns show bearish direction,
recommend hedging long positions or entering short position or bearish spread options strategy in online trading .

Stock Resistance Levels : 32.04, 32.20, 32.37, 32.44, 32.72, 32.85, 32.99, 33.27, 33.36, 34.17,.
Stock Support levels : 30.72, 29.78,.