Today we will analyze the stock PETROLEO SP ADR PFD (PJX.BE) for internet stock trading in the BE stock market,
Stock Technical indicators to notice in PETROLEO SP ADR PFD (PJX.BE)
1- Last bearish trend was from 25.31 $ (3/28/2011) to 24.42 $ (3/29/2011) a 0.89 $ move 2- The current bullish trend started from 24.42 $ at 3/29/2011 and is currently trading at 24.92 $.
3- PJX.BE current support level is at 24.86 which is the 50.00 % fibonacci retracement of the last 0.89 $ move.
4- PJX.BE current resistance level is at 24.97 which is the 61.80 % fibonacci retracement of the last 0.89 $ move.
5- According to ADX Indicator, the trend is currently bullish,which is becoming weaker.
PETROLEO SP ADR PFD (PJX.BE) Short term stock chart patterns for internet stock trading :

6- The Stock formed a 1.870 $ height triangle which was broken down at 24.970, target of the pattern is 23.100.
PETROLEO SP ADR PFD (PJX.BE) Mid term stock chart patterns for internet stock trading :

7- The Stock was resisted by a resistance line, identified by two points: 25.690 and 25.900, and is currently resisting at 25.548.
PETROLEO SP ADR PFD (PJX.BE) Long term stock chart patterns for internet stock trading :

8- The Stock formed a 4.990 $ height triangle which was broken up at 22.610, target of the pattern is 27.600 which was broken down at 24.800, target of the pattern is 19.810.

Stock Trading Conclusion:
PETROLEO SP ADR PFD (PJX.BE) was trading in a bullish 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 : 24.97, 25.31, 25.32, 25.55, 25.55, 25.86, 26.01, 27.60.
Stock Support levels : 24.86, 24.80, 24.76, 24.73, 24.67, 24.63, 24.61, 24.42, 24.00, 23.10, 19.81,.