Today we will analyze the stock NOVATECH INDUSTR.N (MLNOV.PA) for internet stock trading in the PA stock market,
Stock Technical indicators to notice in NOVATECH INDUSTR.N (MLNOV.PA)
1- Last bearish trend was from 5.90 $ (1/24/2012) to 4.60 $ (1/27/2012) a 1.30 $ move 2- The current bullish trend started from 4.60 $ at 1/27/2012 and is currently trading at 5.90 $.
3- MLNOV.PA current support level is at 5.90 which is the 100.00 % fibonacci retracement of the last 1.30 $ move.
4- MLNOV.PA current resistance level is at 6.25 which is the 127.20 % fibonacci retracement of the last 1.30 $ move.
5- According to ADX Indicator, the trend is currently strong bearish, which is getting stronger.
NOVATECH INDUSTR.N (MLNOV.PA) Short term stock chart patterns for internet stock trading :

6- The Stock formed Double Top Pattern at 5.900 .
7- The Stock formed a 1.400 $ height triangle.
NOVATECH INDUSTR.N (MLNOV.PA) Mid term stock chart patterns for internet stock trading :

8- The Stock formed Double Top Pattern at 5.900 .
9- The Stock formed a 1.400 $ height triangle.
NOVATECH INDUSTR.N (MLNOV.PA) Long term stock chart patterns for internet stock trading :

10- The Stock formed Double Top Pattern at 5.900 .
11- The Stock formed a 1.400 $ height triangle.

Stock Trading Conclusion:
NOVATECH INDUSTR.N (MLNOV.PA) was trading in a strong bearish 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 : 6.25, 6.70.
Stock Support levels : 5.59, 5.40, 5.25, 5.10, 4.91, 4.60, 4.50,.