Today we will analyze the stock ANGANG STEEL (0347.HK) for internet stock trading in the HK stock market,
Stock Technical indicators to notice in ANGANG STEEL (0347.HK)
1- Last bearish trend was from 6.67 $ (1/27/2012) to 5.57 $ (1/31/2012) a 1.10 $ move 2- The current bullish trend started from 5.57 $ at 1/31/2012 and is currently trading at 5.77 $.
3- 0347.HK current support level is at 5.57 which is the 0.00 % fibonacci retracement of the last 1.10 $ move.
4- 0347.HK current resistance level is at 5.83 which is the 23.60 % fibonacci retracement of the last 1.10 $ move.
5- According to ADX Indicator, the trend is currently bearish,which is becoming weaker.
ANGANG STEEL (0347.HK) Short term stock chart patterns for internet stock trading :

None.
ANGANG STEEL (0347.HK) Mid term stock chart patterns for internet stock trading :

6- The Stock was supported by a support line, identified by two points: 5.440 and 5.090 that was broken down at 5.570 transforming into a resistance line.
ANGANG STEEL (0347.HK) Long term stock chart patterns for internet stock trading :

7- The Stock was supported by a support line, identified by two points: 5.090 and 4.440 that was broken down at 6.260 transforming into a resistance line.

Stock Trading Conclusion:
ANGANG STEEL (0347.HK) 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 : 5.83, 5.87, 5.99, 6.12, 6.25, 6.44, 6.67, 6.97, 7.35.
Stock Support levels : 5.72, 5.69, 5.67, 5.65, 5.61, 5.57,.