Today we will analyze the stock PETROLEO BRAS PFD (PJXB.BE) for internet stock trading in the BE stock market,
Stock Technical indicators to notice in PETROLEO BRAS PFD (PJXB.BE)
1- Last bearish trend was from 12.95 $ (3/7/2011) to 11.82 $ (3/16/2011) a 1.13 $ move 2- The current bullish trend started from 11.82 $ at 3/16/2011 and is currently trading at 12.40 $.
3- PJXB.BE current support level is at 12.39 which is the 50.00 % fibonacci retracement of the last 1.13 $ move.
4- PJXB.BE current resistance level is at 12.52 which is the 61.80 % fibonacci retracement of the last 1.13 $ move.
5- According to ADX Indicator, the trend is currently bullish,which is becoming weaker.
PETROLEO BRAS PFD (PJXB.BE) Short term stock chart patterns for internet stock trading :

6- The Stock was supported by a support line, identified by two points: 11.820 and 11.620, and is currently supporting at 11.970.
PETROLEO BRAS PFD (PJXB.BE) Mid term stock chart patterns for internet stock trading :

7- The Stock formed Double Top Pattern at 12.950 .
8- The Stock formed a 1.360 $ height triangle.
PETROLEO BRAS PFD (PJXB.BE) Long term stock chart patterns for internet stock trading :

9- The Stock was supported by a support line, identified by two points: 11.620 and 10.690, and is currently supporting at 12.343.

Stock Trading Conclusion:
PETROLEO BRAS PFD (PJXB.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 : 12.52, 12.93, 12.95, 13.26, 13.65.
Stock Support levels : 12.39, 12.34, 12.26, 12.25, 12.18, 12.11, 12.09, 12.04, 11.97, 11.82,.