Today we will analyze the stock Electro-optical Sciences (MELA) for internet stock trading in the NASDAQ stock market,
Stock Technical indicators to notice in Electro-optical Sciences (MELA)
1- Last bullish trend was from 4.15 $ (1/27/2012) to 4.75 $ (1/30/2012) a 0.60 $ move 2- The current bearish trend started from 4.75 $ at 1/30/2012 and is currently trading at 4.59 $.
3- MELA current support level is at 4.52 which is the 38.20 % fibonacci retracement of the last 0.60 $ move.
4- MELA current resistance level is at 4.61 which is the 23.60 % fibonacci retracement of the last 0.60 $ move.
5- According to ADX Indicator, the trend is currently strong bullish, which is getting stronger.furthermore, the ADX indicator location between DMI+ and DMI- is hinting on a strong move ahead. the stock is very volatile at this point.
Electro-optical Sciences (MELA) Short term stock chart patterns for internet stock trading :

6- The Stock was supported by a support line, identified by two points: 4.150 and 3.210, and is currently supporting at 4.367.
Electro-optical Sciences (MELA) Mid term stock chart patterns for internet stock trading :

7- The Stock was supported by a support line, identified by two points: 4.150 and 3.210, and is currently supporting at 4.367.
Electro-optical Sciences (MELA) Long term stock chart patterns for internet stock trading :

8- The Stock was resisted by a resistance line, identified by two points: 3.980 and 5.250 that was broken up at 3.700 transforming into a supporting line.

Stock Trading Conclusion:
Electro-optical Sciences (MELA) was trading in a strong bullish wave, which is becoming stronger .
Technical indicators and stock chart patterns show highly volatile movements favoriting bullish direction,
recommend stopping short positions or entering long position or bullish spread options strategy in online trading , because of the high expected future volatility, consider constructing symmetrical options strategies for buying volatility through strangles or straddles in online trading. .

Stock Resistance Levels : 4.61, 4.63, 4.65, 4.67, 4.69, 4.75,.
Stock Support levels : 4.52, 4.45, 4.38, 4.37, 4.15, 3.99, 3.78,.