Today we will analyze the stock Witan Investment Trust plc Ordi (WIT.NZ) for internet stock trading in the NZ stock market,
Stock Technical indicators to notice in Witan Investment Trust plc Ordi (WIT.NZ)
1- Last bullish trend was from 8.65 $ (10/1/2010) to 9.02 $ (10/4/2010) a 0.37 $ move 2- The current bearish trend started from 9.02 $ at 10/4/2010 and is currently trading at 8.65 $.
3- WIT.NZ current support level is at 8.55 which is the 127.20 % fibonacci retracement of the last 0.37 $ move.
4- WIT.NZ current resistance level is at 8.65 which is the 100.00 % fibonacci retracement of the last 0.37 $ move.
5- According to ADX Indicator, the trend is currently bearish,which is becoming weaker.
6- Bearish Divergance in MACD Indicator .
Witan Investment Trust plc Ordi (WIT.NZ) Short term stock chart patterns for internet stock trading :

7- The Stock formed Double Top Pattern at 9.020 .
8- The Stock formed a 1.000 $ height triangle which was broken down at 8.650, target of the pattern is 7.650.
Witan Investment Trust plc Ordi (WIT.NZ) Mid term stock chart patterns for internet stock trading :

9- The Stock formed Double Top Pattern at 8.800 .
Witan Investment Trust plc Ordi (WIT.NZ) Long term stock chart patterns for internet stock trading :

10- The Stock traded in a bullish stock channel identifed by support at 8.000 and 7.670,resistance between 8.800 and 8.450, the stock channel is currently supported from below by 8.405 and resisted from above by 9.342.

Stock Trading Conclusion:
Witan Investment Trust plc Ordi (WIT.NZ) was trading in a bearish 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 : 8.71, 8.74, 8.79, 8.80, 8.84, 8.88, 8.93, 9.02, 9.04, 9.08.
Stock Support levels : 8.55, 8.42,.