Today we will analyze the stock MELO BIOTECHNOLG HLD (MLOBF.OB) for internet stock trading in the OB stock market,
Stock Technical indicators to notice in MELO BIOTECHNOLG HLD (MLOBF.OB)
1- Last bullish trend was from 0.35 $ (2/14/2011) to 0.64 $ (3/1/2011) a 0.29 $ move 2- The current bearish trend started from 0.64 $ at 3/1/2011 and is currently trading at 0.55 $.
3- MLOBF.OB current support level is at 0.53 which is the 38.20 % fibonacci retracement of the last 0.29 $ move.
4- MLOBF.OB current resistance level is at 0.57 which is the 23.60 % fibonacci retracement of the last 0.29 $ move.
5- According to ADX Indicator, the trend is currently strong bullish,which is becoming weaker.furthermore, the ADX indicator location between DMI+ and DMI- is hinting on a strong move ahead. the stock is very volatile at this point.
MELO BIOTECHNOLG HLD (MLOBF.OB) Short term stock chart patterns for internet stock trading :

6- The Stock formed Double Bottom Pattern at 0.350 .
MELO BIOTECHNOLG HLD (MLOBF.OB) Mid term stock chart patterns for internet stock trading :

7- The Stock formed Double Bottom Pattern at 0.350 .
MELO BIOTECHNOLG HLD (MLOBF.OB) Long term stock chart patterns for internet stock trading :

8- The Stock formed Double Bottom Pattern at 0.350 .

Stock Trading Conclusion:
MELO BIOTECHNOLG HLD (MLOBF.OB) was trading in a strong bullish wave, which is becoming weaker .
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 : 0.571, 0.572, 0.584, 0.595, 0.606, 0.640,.
Stock Support levels : 0.529, 0.495, 0.461, 0.350, 0.271,.