Today we will analyze the stock ELUTEX LTD (ELTX.TA) for internet stock trading in the TA stock market,
Stock Technical indicators to notice in ELUTEX LTD (ELTX.TA)
1- Last bullish trend was from 107.00 $ (3/8/2010) to 113.00 $ (3/10/2010) a 6.00 $ move 2- The current bearish trend started from 113.00 $ at 3/10/2010 and is currently trading at 96.20 $.
3- According to ADX Indicator, the trend is currently bearish,which is becoming weaker.
ELUTEX LTD (ELTX.TA) Short term stock chart patterns for internet stock trading :

4- The Stock formed Double Bottom Pattern at 107.000 that failed and formed a resistance.
ELUTEX LTD (ELTX.TA) Mid term stock chart patterns for internet stock trading :

5- The Stock formed Double Top Pattern at 113.000 .
6- The Stock formed a 22.200 $ height triangle which was broken down at 98.700 in higher than usual volume, target of the pattern is 76.500.
ELUTEX LTD (ELTX.TA) Long term stock chart patterns for internet stock trading :

7- The Stock formed Double Top Pattern at 113.000 .
8- The Stock formed a 22.200 $ height triangle which was broken down at 98.700 in higher than usual volume, target of the pattern is 76.500.

Stock Trading Conclusion:
ELUTEX LTD (ELTX.TA) was trading in a bearish 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 : 100.16, 102.62, 104.60, 105.46, 106.58, 107.00, 112.88, 113.00.
Stock Support levels : 76.50,.