Today we will analyze the index IPC Mexico (MXX) for internet stock trading in the INDICES stock market,
Stock Technical indicators to notice in IPC Mexico (MXX)
1- Last bullish trend was from 39,594.64 $ (11/12/2013) to 42,958.82 $ (12/30/2013) a 3,364.18 $ move 2- The current bearish trend started from 42,958.82 $ at 12/30/2013 and is currently trading at 38,671.01 $.
3- MXX current support level is at 37,515.58 which is the 161.80 % fibonacci retracement of the last 3,364.18 $ move.
4- MXX current resistance level is at 38,679.59 which is the 127.20 % fibonacci retracement of the last 3,364.18 $ move.
5- According to ADX Indicator, the trend is currently strong bearish,which is becoming weaker.
IPC Mexico (MXX) Short term stock chart patterns for internet stock trading :

None.
IPC Mexico (MXX) Mid term stock chart patterns for internet stock trading :

6- The Index was supported by a support line, identified by two points: 39,162.488 and 37,517.230 that was broken down at 42,172.730 transforming into a resistance line.
IPC Mexico (MXX) Long term stock chart patterns for internet stock trading :

7- The Index formed a 13,531.451 $ height triangle which was broken down at 39,023.648 in higher than usual volume, target of the pattern is 25,492.197.

Stock Trading Conclusion:
IPC Mexico (MXX) was trading in a strong bearish 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 : 38,679.59, 39,594.64, 39,644.57, 39,682.93, 40,308.95, 40,814.91, 40,879.76, 41,276.73, 41,320.88, 41,673.70, 42,164.88, 42,958.82, 43,473.06.
Stock Support levels : 37,515.58,.