Today we will analyze the stock ABITIBIBOWATER CANADA INC (AXB) for internet stock trading in the TSX stock market,
Stock Technical indicators to notice in ABITIBIBOWATER CANADA INC (AXB)
1- Last bullish trend was from 24.91 $ (5/1/2009) to 26.19 $ (5/4/2009) a 1.28 $ move 2- The current bearish trend started from 26.19 $ at 5/4/2009 and is currently trading at 24.80 $.
3- AXB current support level is at 24.56 which is the 127.20 % fibonacci retracement of the last 1.28 $ move.
4- AXB current resistance level is at 24.91 which is the 100.00 % fibonacci retracement of the last 1.28 $ move.
5- According to ADX Indicator, the trend is currently strong bullish,which is becoming weaker.
ABITIBIBOWATER CANADA INC (AXB) Short term stock chart patterns for internet stock trading :

6- The Stock formed Double Bottom Pattern at 24.910 that failed and formed a resistance.
7- The Stock formed a 2.260 $ height triangle which was broken down at 24.800, target of the pattern is 22.540.
ABITIBIBOWATER CANADA INC (AXB) Mid term stock chart patterns for internet stock trading :

8- The Stock was supported by a support line, identified by two points: 23.240 and 20.820 that was broken down at 24.910 transforming into a resistance line.
ABITIBIBOWATER CANADA INC (AXB) Long term stock chart patterns for internet stock trading :

9- The Stock traded in a bullish stock channel identifed by support at 23.240 and 18.460,resistance between 25.970 and 20.730 which was broken down at 24.800.

Stock Trading Conclusion:
ABITIBIBOWATER CANADA INC (AXB) was trading in a strong 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 : 24.91, 24.92, 25.13, 25.33, 25.40, 25.49, 25.55, 25.66, 25.70, 25.89, 26.19, 26.33, 27.04.
Stock Support levels : 24.56, 24.12,.