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 bearish trend was from 39,924.93 $ (4/3/2012) to 38,444.01 $ (4/13/2012) a 1,480.92 $ move 2- The current bullish trend started from 38,444.01 $ at 4/13/2012 and is currently trading at 39,122.82 $.
3- MXX current support level is at 39,009.72 which is the 38.20 % fibonacci retracement of the last 1,480.92 $ move.
4- MXX current resistance level is at 39,184.47 which is the 50.00 % fibonacci retracement of the last 1,480.92 $ move.
5- According to ADX Indicator, the trend is currently bullish,which is becoming weaker.
IPC Mexico (MXX) Short term stock chart patterns for internet stock trading :

6- The Index traded in a bullish stock channel identifed by support at 38,444.012 and 35,587.781,resistance between 39,924.930 and 37,227.211, the stock channel is currently supported from below by 39,058.645 and resisted from above by 40,720.410.
IPC Mexico (MXX) Mid term stock chart patterns for internet stock trading :

7- The Index was supported by a support line, identified by two points: 34,573.039 and 32,381.061 that was broken down at 39,214.641 transforming into a resistance line.
IPC Mexico (MXX) Long term stock chart patterns for internet stock trading :

8- The Index formed a 6,956.107 $ height triangle which was broken up at 35,558.180 in higher than usual volume, target of the pattern is 42,514.289.

Stock Trading Conclusion:
IPC Mexico (MXX) was trading in a bullish 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 : 39,184.47, 39,359.22, 39,924.93, 40,102.80, 40,327.74, 40,840.14, 42,514.29.
Stock Support levels : 39,009.72, 38,962.62, 38,863.52, 38,793.51, 38,783.41, 38,703.32, 38,444.01,.