Today we will analyze the stock TENCENT (0700.HK) for internet stock trading in the HK stock market,
Stock Technical indicators to notice in TENCENT (0700.HK)
1- Last bearish trend was from 238.80 $ (4/24/2012) to 227.60 $ (4/25/2012) a 11.20 $ move 2- The current bullish trend started from 227.60 $ at 4/25/2012 and is currently trading at 242.60 $.
3- 0700.HK current support level is at 241.85 which is the 127.20 % fibonacci retracement of the last 11.20 $ move.
4- 0700.HK current resistance level is at 245.72 which is the 161.80 % fibonacci retracement of the last 11.20 $ move.
5- According to ADX Indicator, the trend is currently strong bullish, which is getting stronger.
TENCENT (0700.HK) Short term stock chart patterns for internet stock trading :

6- The Stock traded in a bullish stock channel identifed by support at 227.600 and 216.000,resistance between 238.800 and 223.400, the stock channel is currently supported from below by 231.950 and resisted from above by 244.190.
TENCENT (0700.HK) Mid term stock chart patterns for internet stock trading :

7- The Stock formed a 42.100 $ height triangle which was broken up at 148.900 in higher than usual volume, target of the pattern is 191.000.
TENCENT (0700.HK) Long term stock chart patterns for internet stock trading :

8- The Stock formed Double Bottom Pattern at 144.900 .
9- The Stock formed Double Top Pattern at 187.000 that failed, and formed a support .
10- The Stock formed a 42.100 $ height triangle which was broken up at 186.300, target of the pattern is 228.400.

Stock Trading Conclusion:
TENCENT (0700.HK) was trading in a strong bullish 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 : 245.72.
Stock Support levels : 241.85, 239.06, 238.80, 236.87, 235.10, 234.52, 233.33, 233.20, 231.88, 230.24, 227.60, 184.50, 143.11,.