Today we will analyze the stock LI and FUNG (0494.HK) for internet stock trading in the HK stock market,
Stock Technical indicators to notice in LI and FUNG (0494.HK)
1- Last bearish trend was from 16.66 $ (4/17/2012) to 16.06 $ (4/24/2012) a 0.60 $ move 2- The current bullish trend started from 16.06 $ at 4/24/2012 and is currently trading at 16.86 $.
3- 0494.HK current support level is at 16.82 which is the 127.20 % fibonacci retracement of the last 0.60 $ move.
4- 0494.HK current resistance level is at 17.03 which is the 161.80 % fibonacci retracement of the last 0.60 $ move.
5- According to ADX Indicator, the trend is currently bullish,which is becoming weaker.
LI and FUNG (0494.HK) Short term stock chart patterns for internet stock trading :

6- The Stock formed Double Bottom Pattern at 16.060 .
7- The Stock formed a 3.350 $ height triangle which was broken up at 16.610 in higher than usual volume, target of the pattern is 19.960.
LI and FUNG (0494.HK) Mid term stock chart patterns for internet stock trading :

8- The Stock was supported by a support line, identified by two points: 16.740 and 16.330 that was broken down at 16.880 transforming into a resistance line.
LI and FUNG (0494.HK) Long term stock chart patterns for internet stock trading :

9- The Stock was supported by a support line, identified by two points: 16.330 and 13.820 that was broken down at 17.330 transforming into a resistance line.

Stock Trading Conclusion:
LI and FUNG (0494.HK) was trading in a bullish 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 : 17.03, 17.36, 19.96, 23.21.
Stock Support levels : 16.82, 16.67, 16.66, 16.55, 16.46, 16.43, 16.37, 16.36, 16.29, 16.20, 16.06, 16.01,.