Today we will analyze the stock MANDALAY RESOURCES (R7X1.MU) for internet stock trading in the MU stock market,
Stock Technical indicators to notice in MANDALAY RESOURCES (R7X1.MU)
1- Last bullish trend was from 0.52 $ (4/25/2012) to 0.54 $ (5/4/2012) a 0.02 $ move 2- The current bearish trend started from 0.54 $ at 5/4/2012 and is currently trading at 0.51 $.
3- R7X1.MU current support level is at 0.51 which is the 161.80 % fibonacci retracement of the last 0.02 $ move.
4- R7X1.MU current resistance level is at 0.51 which is the 127.20 % fibonacci retracement of the last 0.02 $ move.
5- According to ADX Indicator, the trend is currently bearish, which is getting stronger.
MANDALAY RESOURCES (R7X1.MU) Short term stock chart patterns for internet stock trading :

6- The Stock formed Double Bottom Pattern at 0.520 that failed and formed a resistance.
7- The Stock was resisted by a resistance line, identified by two points: 0.540 and 0.570, and is currently resisting at 0.536.
MANDALAY RESOURCES (R7X1.MU) Mid term stock chart patterns for internet stock trading :

8- The Stock was resisted by a resistance line, identified by two points: 0.570 and 0.600, and is currently resisting at 0.547.
MANDALAY RESOURCES (R7X1.MU) Long term stock chart patterns for internet stock trading :

9- The Stock was resisted by a resistance line, identified by two points: 0.570 and 0.600, and is currently resisting at 0.547.

Stock Trading Conclusion:
MANDALAY RESOURCES (R7X1.MU) was trading in a bearish wave, which is becoming stronger .
Technical indicators and stock chart patterns show no favorited direction,
recommend hold or waiting for entry .

Stock Resistance Levels : 0.515, 0.517, 0.520, 0.521, 0.525, 0.528, 0.529, 0.530, 0.532, 0.535, 0.536, 0.540, 0.547,.
Stock Support levels : 0.508.