Today we will analyze the stock PETRONEFT RESOURCES (PNFTF.PK) for internet stock trading in the PK stock market,
Stock Technical indicators to notice in PETRONEFT RESOURCES (PNFTF.PK)
1- Last bearish trend was from 0.37 $ (1/19/2012) to 0.15 $ (3/16/2012) a 0.22 $ move 2- The current bullish trend started from 0.15 $ at 3/16/2012 and is currently trading at 0.17 $.
3- PNFTF.PK current support level is at 0.15 which is the 0.00 % fibonacci retracement of the last 0.22 $ move.
4- PNFTF.PK current resistance level is at 0.20 which is the 23.60 % fibonacci retracement of the last 0.22 $ move.
5- According to ADX Indicator, the trend is currently strong 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.
PETRONEFT RESOURCES (PNFTF.PK) Short term stock chart patterns for internet stock trading :

6- The Stock traded in a bearish stock channel identifed by support at 0.150 and 0.310,resistance between 0.370 and 0.540, the stock channel is currently supported from below by 0.090 and resisted from above by 0.243.
PETRONEFT RESOURCES (PNFTF.PK) Mid term stock chart patterns for internet stock trading :

7- The Stock was resisted by a resistance line, identified by two points: 0.370 and 1.040 that was broken up at 0.170 transforming into a supporting line.
PETRONEFT RESOURCES (PNFTF.PK) Long term stock chart patterns for internet stock trading :

8- The Stock was resisted by a resistance line, identified by two points: 0.370 and 1.040 that was broken up at 0.170 transforming into a supporting line.

Stock Trading Conclusion:
PETRONEFT RESOURCES (PNFTF.PK) was trading in a strong bearish 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 : 0.202, 0.234, 0.260, 0.286, 0.370, 0.430, 0.506.
Stock Support levels : 0.165, 0.162, 0.160, 0.158, 0.150, 0.048,.