Today we will analyze the stock TELEFONICA (TEF.MC) for internet stock trading in the MC stock market,
Stock Technical indicators to notice in TELEFONICA (TEF.MC)
1- Last bearish trend was from 13.26 $ (2/20/2012) to 12.35 $ (3/12/2012) a 0.91 $ move 2- The current bullish trend started from 12.35 $ at 3/12/2012 and is currently trading at 12.66 $.
3- TEF.MC current support level is at 12.56 which is the 23.60 % fibonacci retracement of the last 0.91 $ move.
4- TEF.MC current resistance level is at 12.70 which is the 38.20 % fibonacci retracement of the last 0.91 $ move.
5- According to ADX Indicator, the trend is currently bearish,which is becoming weaker.
TELEFONICA (TEF.MC) Short term stock chart patterns for internet stock trading :

6- The Stock was resisted by a resistance line, identified by two points: 13.260 and 13.600, and is currently resisting at 12.934.
TELEFONICA (TEF.MC) Mid term stock chart patterns for internet stock trading :

7- The Stock formed Double Bottom Pattern at 12.840 that failed and formed a resistance.
8- The Stock was resisted by a resistance line, identified by two points: 13.710 and 14.110 that was broken up at 12.700 transforming into a supporting line.
TELEFONICA (TEF.MC) Long term stock chart patterns for internet stock trading :

9- The Stock formed a 3.140 $ height triangle which was broken up at 13.200, target of the pattern is 16.340 which was broken down at 12.880, target of the pattern is 9.740.

Stock Trading Conclusion:
TELEFONICA (TEF.MC) 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 : 12.70, 12.75, 12.81, 12.91, 12.93, 13.12, 13.26, 13.51, 13.82, 16.34.
Stock Support levels : 12.59, 12.57, 12.56, 12.54, 12.51, 12.47, 12.35, 9.74,.