Today we will analyze the stock Novelos Therapeutics (NVLT.OB) for internet stock trading in the OB stock market,
Stock Technical indicators to notice in Novelos Therapeutics (NVLT.OB)
1- Last bearish trend was from 0.39 $ (2/4/2014) to 0.37 $ (2/5/2014) a 0.02 $ move 2- The current bullish trend started from 0.37 $ at 2/5/2014 and is currently trading at 0.40 $.
3- NVLT.OB current support level is at 0.40 which is the 127.20 % fibonacci retracement of the last 0.02 $ move.
4- NVLT.OB current resistance level is at 0.40 which is the 161.80 % fibonacci retracement of the last 0.02 $ move.
5- According to ADX Indicator, the trend is currently strong bearish, 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.
Novelos Therapeutics (NVLT.OB) Short term stock chart patterns for internet stock trading :

6- The Stock formed a 0.050 $ height triangle which was broken up at 0.400 in higher than usual volume, target of the pattern is 0.450 which was broken down at 0.400, target of the pattern is 0.350.
Novelos Therapeutics (NVLT.OB) Mid term stock chart patterns for internet stock trading :

7- The Stock formed Double Top Pattern at 0.400 .
Novelos Therapeutics (NVLT.OB) Long term stock chart patterns for internet stock trading :

8- The Stock is trading in a stock channel between 0.350 $ and 0.400 $.


Stock Trading Conclusion:
Novelos Therapeutics (NVLT.OB) was trading in a strong bearish wave, which is becoming stronger .
Technical indicators and stock chart patterns show highly volatile movements favoriting bearish direction,
recommend hedging long positions or entering short position or bearish 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 : 0.402, 0.403, 0.450.
Stock Support levels : 0.395, 0.393, 0.390, 0.389, 0.385, 0.382, 0.381, 0.380, 0.378, 0.375, 0.375, 0.370, 0.350,.