Today we will analyze the stock Mainfreight Limited Ordinary Sh (MFT.NZ) for internet stock trading in the NZ stock market,
Stock Technical indicators to notice in Mainfreight Limited Ordinary Sh (MFT.NZ)
1- Last bearish trend was from 9.94 $ (1/4/2012) to 9.42 $ (1/17/2012) a 0.52 $ move 2- The current bullish trend started from 9.42 $ at 1/17/2012 and is currently trading at 9.85 $.
3- MFT.NZ current support level is at 9.74 which is the 61.80 % fibonacci retracement of the last 0.52 $ move.
4- MFT.NZ current resistance level is at 9.94 which is the 100.00 % fibonacci retracement of the last 0.52 $ move.
5- According to ADX Indicator, the trend is currently bullish, which is getting stronger.
Mainfreight Limited Ordinary Sh (MFT.NZ) Short term stock chart patterns for internet stock trading :

6- The Stock was resisted by a resistance line, identified by two points: 9.940 and 10.530 that was broken up at 9.750 transforming into a supporting line.
Mainfreight Limited Ordinary Sh (MFT.NZ) Mid term stock chart patterns for internet stock trading :

7- The Stock was supported by a support line, identified by two points: 9.500 and 9.400, and is currently supporting at 9.624.
Mainfreight Limited Ordinary Sh (MFT.NZ) Long term stock chart patterns for internet stock trading :

8- The Stock formed a 4.760 $ height triangle which was broken down at 10.300 in higher than usual volume, target of the pattern is 5.540.

Stock Trading Conclusion:
Mainfreight Limited Ordinary Sh (MFT.NZ) was trading in a bullish wave, which is becoming stronger .
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 : 9.94, 10.08, 10.26, 10.77.
Stock Support levels : 9.75, 9.74, 9.69, 9.68, 9.64, 9.62, 9.62, 9.58, 9.56, 9.54, 9.51, 9.42,.