Today we will analyze the stock PETROLEO BR SP ADR (PJXA.BE) for internet stock trading in the BE stock market,
Stock Technical indicators to notice in PETROLEO BR SP ADR (PJXA.BE)
1- Last bullish trend was from 27.15 $ (3/21/2011) to 29.10 $ (4/4/2011) a 1.95 $ move 2- The current bearish trend started from 29.10 $ at 4/4/2011 and is currently trading at 27.81 $.
3- PJXA.BE current support level is at 27.15 which is the 100.00 % fibonacci retracement of the last 1.95 $ move.
4- PJXA.BE current resistance level is at 27.89 which is the 61.80 % fibonacci retracement of the last 1.95 $ move.
5- According to ADX Indicator, the trend is currently bullish,which is becoming weaker.
6- Bullish Divergance in MACD Indicator .
PETROLEO BR SP ADR (PJXA.BE) Short term stock chart patterns for internet stock trading :

7- The Stock traded in a bearish stock channel identifed by support at 27.150 and 28.220,resistance between 29.100 and 30.500, the stock channel is currently supported from below by 25.915 and resisted from above by 28.732.
PETROLEO BR SP ADR (PJXA.BE) Mid term stock chart patterns for internet stock trading :

8- The Stock was supported by a support line, identified by two points: 27.150 and 25.950 that was broken down at 27.810 transforming into a resistance line.
PETROLEO BR SP ADR (PJXA.BE) Long term stock chart patterns for internet stock trading :

9- The Stock traded in a bullish stock channel identifed by support at 25.770 and 22.510,resistance between 30.500 and 29.030 which was broken down at 27.890.

Stock Trading Conclusion:
PETROLEO BR SP ADR (PJXA.BE) was trading in a bullish wave, which is becoming weaker .
Technical indicators and stock chart patterns show no favorited direction,
recommend hold or waiting for entry .

Stock Resistance Levels : 27.82, 27.89, 28.11, 28.13, 28.17, 28.30, 28.36, 28.45, 28.61, 28.64, 29.10,.
Stock Support levels : 27.15, 26.62,.