Today we will analyze the stock TAIWAN WAX TWD10 (1742.TWO) for internet stock trading in the TWO stock market,
Stock Technical indicators to notice in TAIWAN WAX TWD10 (1742.TWO)
1- Last bearish trend was from 18.05 $ (4/12/2012) to 15.95 $ (4/30/2012) a 2.10 $ move 2- The current bullish trend started from 15.95 $ at 4/30/2012 and is currently trading at 16.20 $.
3- 1742.TWO current support level is at 15.95 which is the 0.00 % fibonacci retracement of the last 2.10 $ move.
4- 1742.TWO current resistance level is at 16.45 which is the 23.60 % fibonacci retracement of the last 2.10 $ move.
5- According to ADX Indicator, the trend is currently strong bearish, which is getting stronger.
TAIWAN WAX TWD10 (1742.TWO) Short term stock chart patterns for internet stock trading :

6- The Stock was resisted by a resistance line, identified by two points: 18.050 and 22.400 that was broken up at 16.500 transforming into a supporting line.
TAIWAN WAX TWD10 (1742.TWO) Mid term stock chart patterns for internet stock trading :

7- The Stock traded in a bearish stock channel identifed by support at 16.800 and 20.750,resistance between 18.050 and 22.400 which was broken up at 16.500 in higher than usual volume.
TAIWAN WAX TWD10 (1742.TWO) Long term stock chart patterns for internet stock trading :

8- The Stock was supported by a support line, identified by two points: 17.350 and 17.200 that was broken down at 17.750 transforming into a resistance line.

Stock Trading Conclusion:
TAIWAN WAX TWD10 (1742.TWO) was trading in a strong bearish wave, which is becoming stronger .
Technical indicators and stock chart patterns show bullish direction,
recommend stopping short positions or entering long position or bullish spread options strategy in online trading .

Stock Resistance Levels : 16.45, 16.75, 17.00, 17.25, 18.05, 18.48, 18.62, 19.35.
Stock Support levels : 16.14, 16.10, 16.08, 16.05, 15.95, 15.65,.