Today we will analyze the stock L and M Petroleum Limited Ordinar (LMP.NZ) for internet stock trading in the NZ stock market,
Stock Technical indicators to notice in L and M Petroleum Limited Ordinar (LMP.NZ)
1- Last bullish trend was from 0.16 $ (1/5/2010) to 0.19 $ (1/14/2010) a 0.03 $ move 2- The current bearish trend started from 0.19 $ at 1/14/2010 and is currently trading at 0.18 $.
3- LMP.NZ current support level is at 0.18 which is the 38.20 % fibonacci retracement of the last 0.03 $ move.
4- LMP.NZ current resistance level is at 0.18 which is the 23.60 % fibonacci retracement of the last 0.03 $ move.
5- According to ADX Indicator, the trend is currently bullish,which is becoming weaker.
L and M Petroleum Limited Ordinar (LMP.NZ) Short term stock chart patterns for internet stock trading :

6- The Stock was supported by a support line, identified by two points: 0.160 and 0.120 that was broken down at 0.190 transforming into a resistance line.
L and M Petroleum Limited Ordinar (LMP.NZ) Mid term stock chart patterns for internet stock trading :

7- The Stock was resisted by a resistance line, identified by two points: 0.140 and 0.150 that was broken up at 0.170 transforming into a supporting line.
L and M Petroleum Limited Ordinar (LMP.NZ) Long term stock chart patterns for internet stock trading :

8- The Stock formed Double Bottom Pattern at 0.120 .
9- The Stock formed a 0.040 $ height triangle which was broken up at 0.170 in higher than usual volume, target of the pattern is 0.210.

Stock Trading Conclusion:
L and M Petroleum Limited Ordinar (LMP.NZ) 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 : 0.182, 0.183, 0.184, 0.185, 0.186, 0.190, 0.206, 0.210.
Stock Support levels : 0.179, 0.175, 0.171, 0.160, 0.152, 0.141, 0.135, 0.122,.