Today we will analyze the stock Conexant Systems (CNXT) for internet stock trading in the NASDAQ stock market,
Stock Technical indicators to notice in Conexant Systems (CNXT)
1- Last bullish trend was from 2.04 $ (1/21/2011) to 2.52 $ (2/22/2011) a 0.48 $ move 2- The current bearish trend started from 2.52 $ at 2/22/2011 and is currently trading at 2.38 $.
3- CNXT current support level is at 2.34 which is the 38.20 % fibonacci retracement of the last 0.48 $ move.
4- CNXT current resistance level is at 2.41 which is the 23.60 % fibonacci retracement of the last 0.48 $ move.
5- According to ADX Indicator, the trend is currently bullish,which is becoming weaker.
Conexant Systems (CNXT) Short term stock chart patterns for internet stock trading :

6- The Stock was supported by a support line, identified by two points: 2.040 and 1.630 that was broken down at 2.470 transforming into a resistance line.
Conexant Systems (CNXT) Mid term stock chart patterns for internet stock trading :

7- The Stock traded in a bullish stock channel identifed by support at 1.570 and 1.350,resistance between 2.520 and 1.700 which was broken down at 2.340 in higher than usual volume.
Conexant Systems (CNXT) Long term stock chart patterns for internet stock trading :

8- The Stock was resisted by a resistance line, identified by two points: 1.810 and 2.410 that was broken up at 1.430 transforming into a supporting line.

Stock Trading Conclusion:
Conexant Systems (CNXT) was trading in a bullish 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 : 2.41, 2.41, 2.43, 2.45, 2.47, 2.52, 3.13, 3.96.
Stock Support levels : 2.34, 2.28, 2.22, 2.04, 1.91, 1.74,.