Today we will analyze the stock MAGNIT SP GDR REG-S (5M71.DE) for internet stock trading in the DE stock market,
Stock Technical indicators to notice in MAGNIT SP GDR REG-S (5M71.DE)
1- Last bearish trend was from 20.00 $ (7/30/2010) to 14.35 $ (9/28/2010) a 5.65 $ move 2- The current bullish trend started from 14.35 $ at 9/28/2010 and is currently trading at 23.08 $.
3- 5M71.DE current support level is at 21.54 which is the 127.20 % fibonacci retracement of the last 5.65 $ move.
4- 5M71.DE current resistance level is at 23.49 which is the 161.80 % fibonacci retracement of the last 5.65 $ move.
5- According to ADX Indicator, the trend is currently strong bullish, 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.
MAGNIT SP GDR REG-S (5M71.DE) Short term stock chart patterns for internet stock trading :

6- The Stock formed Double Top Pattern at 20.000 that failed, and formed a support .
7- The Stock was supported by a support line, identified by two points: 14.350 and 14.000, and is currently supporting at 15.177.
MAGNIT SP GDR REG-S (5M71.DE) Mid term stock chart patterns for internet stock trading :

8- The Stock formed Double Top Pattern at 20.000 that failed, and formed a support .
9- The Stock was supported by a support line, identified by two points: 14.350 and 14.000, and is currently supporting at 15.177.
MAGNIT SP GDR REG-S (5M71.DE) Long term stock chart patterns for internet stock trading :

10- The Stock formed Double Top Pattern at 20.000 that failed, and formed a support .
11- The Stock was supported by a support line, identified by two points: 14.350 and 14.000, and is currently supporting at 15.177.

Stock Trading Conclusion:
MAGNIT SP GDR REG-S (5M71.DE) was trading in a strong bullish wave, which is becoming stronger .
Technical indicators and stock chart patterns show highly volatile movements favoriting no favorited direction,
recommend hold or waiting for entry , 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 : 23.49.
Stock Support levels : 21.54, 21.02, 20.00, 19.75, 18.72, 17.84, 17.68, 17.17, 16.51, 15.68, 15.18, 14.35,.