Today we will analyze the stock MEGA BRANDS INC (MBLKF.PK) for internet stock trading in the PK stock market,
Stock Technical indicators to notice in MEGA BRANDS INC (MBLKF.PK)
1- Last bullish trend was from 5.94 $ (3/28/2012) to 6.61 $ (4/2/2012) a 0.67 $ move 2- The current bearish trend started from 6.61 $ at 4/2/2012 and is currently trading at 6.16 $.
3- MBLKF.PK current support level is at 5.94 which is the 100.00 % fibonacci retracement of the last 0.67 $ move.
4- MBLKF.PK current resistance level is at 6.20 which is the 61.80 % fibonacci retracement of the last 0.67 $ 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.
MEGA BRANDS INC (MBLKF.PK) Short term stock chart patterns for internet stock trading :

6- The Stock was resisted by a resistance line, identified by two points: 6.610 and 7.970 that was broken up at 6.550 transforming into a supporting line.
MEGA BRANDS INC (MBLKF.PK) Mid term stock chart patterns for internet stock trading :

7- The Stock was resisted by a resistance line, identified by two points: 6.610 and 8.750 that was broken up at 6.160 transforming into a supporting line.
MEGA BRANDS INC (MBLKF.PK) Long term stock chart patterns for internet stock trading :

8- The Stock was resisted by a resistance line, identified by two points: 8.750 and 9.810, and is currently resisting at 7.082.

Stock Trading Conclusion:
MEGA BRANDS INC (MBLKF.PK) was trading in a strong bearish wave, which is becoming stronger .
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 : 6.20, 6.27, 6.28, 6.33, 6.35, 6.39, 6.44, 6.45, 6.61, 7.08.
Stock Support levels : 6.07, 5.94, 5.76, 5.53,.