Today we will analyze the stock ADDAX PETROLEUM (42A.SG) for internet stock trading in the SG stock market,
Stock Technical indicators to notice in ADDAX PETROLEUM (42A.SG)
1- Last bullish trend was from 29.86 $ (7/8/2009) to 33.74 $ (8/24/2009) a 3.88 $ move 2- The current bearish trend started from 33.74 $ at 8/24/2009 and is currently trading at 33.02 $.
3- 42A.SG current support level is at 32.82 which is the 23.60 % fibonacci retracement of the last 3.88 $ move.
4- 42A.SG current resistance level is at 33.74 which is the 0.00 % fibonacci retracement of the last 3.88 $ move.
5- According to ADX Indicator, the trend is currently bullish,which is becoming weaker.
ADDAX PETROLEUM (42A.SG) Short term stock chart patterns for internet stock trading :

6- The Stock was supported by a support line, identified by two points: 29.860 and 27.660 that was broken down at 33.090 transforming into a resistance line.
ADDAX PETROLEUM (42A.SG) Mid term stock chart patterns for internet stock trading :

7- The Stock traded in a bullish stock channel identifed by support at 27.660 and 21.850,resistance between 29.650 and 24.150 which was broken down at 30.220 in higher than usual volume.
ADDAX PETROLEUM (42A.SG) Long term stock chart patterns for internet stock trading :

8- The Stock was supported by a support line, identified by two points: 21.850 and 20.320, and is currently supporting at 32.089.

Stock Trading Conclusion:
ADDAX PETROLEUM (42A.SG) was trading in a bullish wave, which is becoming weaker .
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 : 33.19, 33.30, 33.38, 33.46, 33.74, 39.76, 72.40.
Stock Support levels : 32.82, 32.26, 32.09, 31.80, 31.34, 29.86, 28.80,.