Today we will analyze the stock SHALAG INDUSTRIES (SALG.TA) for internet stock trading in the TA stock market,
Stock Technical indicators to notice in SHALAG INDUSTRIES (SALG.TA)
1- Last bullish trend was from 697.40 $ (4/16/2012) to 725.00 $ (4/30/2012) a 27.60 $ move 2- The current bearish trend started from 725.00 $ at 4/30/2012 and is currently trading at 693.90 $.
3- SALG.TA current support level is at 689.89 which is the 127.20 % fibonacci retracement of the last 27.60 $ move.
4- SALG.TA current resistance level is at 697.40 which is the 100.00 % fibonacci retracement of the last 27.60 $ move.
5- According to ADX Indicator, the trend is currently bearish,which is becoming weaker.
SHALAG INDUSTRIES (SALG.TA) Short term stock chart patterns for internet stock trading :

6- The Stock formed a 105.000 $ height triangle which was broken down at 697.000, target of the pattern is 592.000.
SHALAG INDUSTRIES (SALG.TA) Mid term stock chart patterns for internet stock trading :

7- The Stock formed Double Top Pattern at 750.000 .
SHALAG INDUSTRIES (SALG.TA) Long term stock chart patterns for internet stock trading :

8- The Stock was supported by a support line, identified by two points: 631.000 and 600.000, and is currently supporting at 639.814.

Stock Trading Conclusion:
SHALAG INDUSTRIES (SALG.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 : 697.40, 701.24, 705.78, 707.94, 709.45, 711.20, 713.12, 714.46, 718.49, 725.00, 727.28, 750.00.
Stock Support levels : 689.89, 680.34, 639.81,.