Today we will analyze the stock LUNG CHEONG (0348.HK) for internet stock trading in the HK stock market,
Stock Technical indicators to notice in LUNG CHEONG (0348.HK)
1- Last bearish trend was from 0.26 $ (4/25/2012) to 0.24 $ (4/30/2012) a 0.02 $ move 2- The current bullish trend started from 0.24 $ at 4/30/2012 and is currently trading at 0.25 $.
3- 0348.HK current support level is at 0.25 which is the 50.00 % fibonacci retracement of the last 0.02 $ move.
4- 0348.HK current resistance level is at 0.25 which is the 61.80 % fibonacci retracement of the last 0.02 $ move.
5- According to ADX Indicator, the trend is currently strong bearish,which is becoming weaker.
6- Bearish Divergance in MACD Indicator .
LUNG CHEONG (0348.HK) Short term stock chart patterns for internet stock trading :

7- The Stock was supported by a support line, identified by two points: 0.240 and 0.200 that was broken down at 0.250 transforming into a resistance line.
LUNG CHEONG (0348.HK) Mid term stock chart patterns for internet stock trading :

8- The Stock formed Double Bottom Pattern at 0.200 .
LUNG CHEONG (0348.HK) Long term stock chart patterns for internet stock trading :

9- The Stock formed Double Bottom Pattern at 0.200 .
10- The Stock formed Double Top Pattern at 0.220 that failed, and formed a support .

Stock Trading Conclusion:
LUNG CHEONG (0348.HK) was trading in a strong bearish wave, which is becoming weaker .
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 : 0.252, 0.260, 0.265, 0.272, 0.290.
Stock Support levels : 0.248, 0.246, 0.245, 0.245, 0.244, 0.240, 0.220, 0.200,.