Today we will analyze the stock WATSON PHARMACEUT (WAP.BE) for internet stock trading in the BE stock market,
Stock Technical indicators to notice in WATSON PHARMACEUT (WAP.BE)
1- Last bearish trend was from 40.85 $ (3/14/2011) to 37.93 $ (3/21/2011) a 2.92 $ move 2- The current bullish trend started from 37.93 $ at 3/21/2011 and is currently trading at 39.19 $.
3- WAP.BE current support level is at 39.05 which is the 38.20 % fibonacci retracement of the last 2.92 $ move.
4- WAP.BE current resistance level is at 39.39 which is the 50.00 % fibonacci retracement of the last 2.92 $ move.
5- According to ADX Indicator, the trend is currently bearish,which is becoming weaker.
WATSON PHARMACEUT (WAP.BE) Short term stock chart patterns for internet stock trading :

6- The Stock was resisted by a resistance line, identified by two points: 40.850 and 41.570, and is currently resisting at 40.130.
WATSON PHARMACEUT (WAP.BE) Mid term stock chart patterns for internet stock trading :

7- The Stock was supported by a support line, identified by two points: 30.560 and 30.030, and is currently supporting at 32.138.
WATSON PHARMACEUT (WAP.BE) Long term stock chart patterns for internet stock trading :

8- The Stock formed a 6.310 $ height triangle which was broken up at 35.120, target of the pattern is 41.430.

Stock Trading Conclusion:
WATSON PHARMACEUT (WAP.BE) 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 : 39.39, 39.73, 40.13, 40.85, 41.43, 41.64, 42.65.
Stock Support levels : 39.05, 38.89, 38.71, 38.62, 38.56, 38.41, 37.93, 32.14,.