Today we will analyze the stock NexGen Biofuels Ltd. (NXGNF.OB) for internet stock trading in the OB stock market,
Stock Technical indicators to notice in NexGen Biofuels Ltd. (NXGNF.OB)
1- Last bullish trend was from 0.13 $ (3/22/2010) to 0.22 $ (3/25/2010) a 0.09 $ move 2- The current bearish trend started from 0.22 $ at 3/25/2010 and is currently trading at 0.16 $.
3- NXGNF.OB current support level is at 0.13 which is the 100.00 % fibonacci retracement of the last 0.09 $ move.
4- NXGNF.OB current resistance level is at 0.16 which is the 61.80 % fibonacci retracement of the last 0.09 $ move.
5- According to ADX Indicator, the trend is currently bearish,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.
NexGen Biofuels Ltd. (NXGNF.OB) Short term stock chart patterns for internet stock trading :

None.
NexGen Biofuels Ltd. (NXGNF.OB) Mid term stock chart patterns for internet stock trading :

6- The Stock formed Double Top Pattern at 0.220 .
NexGen Biofuels Ltd. (NXGNF.OB) Long term stock chart patterns for internet stock trading :

7- The Stock formed Double Top Pattern at 0.220 .

Stock Trading Conclusion:
NexGen Biofuels Ltd. (NXGNF.OB) was trading in a bearish wave, which is becoming weaker .
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 : 0.164, 0.174, 0.175, 0.183, 0.186, 0.190, 0.197, 0.199, 0.220,.
Stock Support levels : 0.130, 0.106,.