Today we will analyze the stock RELIG TECH (RELIGTECH.BO) for internet stock trading in the BO stock market,
Stock Technical indicators to notice in RELIG TECH (RELIGTECH.BO)
1- Last bullish trend was from 37.70 $ (4/13/2012) to 38.85 $ (4/16/2012) a 1.15 $ move 2- The current bearish trend started from 38.85 $ at 4/16/2012 and is currently trading at 29.00 $.
3- According to ADX Indicator, the trend is currently strong bearish, which is getting stronger.furthermore, the ADX indicator location between DMI+ and DMI- is hinting on a strong move ahead. the stock is very volatile at this point.
RELIG TECH (RELIGTECH.BO) Short term stock chart patterns for internet stock trading :

4- The Stock was resisted by a resistance line, identified by two points: 38.850 and 39.650, and is currently resisting at 33.650.
RELIG TECH (RELIGTECH.BO) Mid term stock chart patterns for internet stock trading :

5- The Stock formed a 22.800 $ height triangle which was broken down at 33.500, target of the pattern is 10.700.
RELIG TECH (RELIGTECH.BO) Long term stock chart patterns for internet stock trading :

6- The Stock formed a 22.800 $ height triangle which was broken down at 33.500, target of the pattern is 10.700.

Stock Trading Conclusion:
RELIG TECH (RELIGTECH.BO) was trading in a strong bearish wave, which is becoming stronger .
Technical indicators and stock chart patterns show highly volatile movements favoriting bearish direction,
recommend hedging long positions or entering short position or bearish spread options strategy in online trading , because of the high expected future volatility, consider constructing symmetrical options strategies for buying volatility through strangles or straddles in online trading. .

Stock Resistance Levels : 31.32, 32.76, 33.65, 33.92, 35.09, 35.62, 38.85.
Stock Support levels : 10.70,.