Today we will analyze the stock CITY TELECOM (1137.HK) for internet stock trading in the HK stock market,
Stock Technical indicators to notice in CITY TELECOM (1137.HK)
1- Last bearish trend was from 3.11 $ (2/14/2014) to 2.86 $ (2/26/2014) a 0.25 $ move 2- The current bullish trend started from 2.86 $ at 2/26/2014 and is currently trading at 3.00 $.
3- 1137.HK current support level is at 2.98 which is the 50.00 % fibonacci retracement of the last 0.25 $ move.
4- 1137.HK current resistance level is at 3.01 which is the 61.80 % fibonacci retracement of the last 0.25 $ move.
5- According to ADX Indicator, the trend is currently bullish, which is getting stronger.furthermore, the ADX indicator location between DMI+ and DMI- is hinting on a strong move ahead. the stock is very volatile at this point.
6- Bullish Divergance in MACD Indicator .
CITY TELECOM (1137.HK) Short term stock chart patterns for internet stock trading :

7- The Stock traded in a bullish stock channel identifed by support at 2.860 and 2.710,resistance between 3.110 and 2.960, the stock channel is currently supported from below by 2.960 and resisted from above by 3.310.
CITY TELECOM (1137.HK) Mid term stock chart patterns for internet stock trading :

8- The Stock traded in a bullish stock channel identifed by support at 2.860 and 2.710,resistance between 3.110 and 2.960, the stock channel is currently supported from below by 2.960 and resisted from above by 3.310.
CITY TELECOM (1137.HK) Long term stock chart patterns for internet stock trading :

9- The Stock was supported by a support line, identified by two points: 2.710 and 2.040, and is currently supporting at 2.963.

Stock Trading Conclusion:
CITY TELECOM (1137.HK) was trading in a bullish wave, which is becoming stronger .
Technical indicators and stock chart patterns show highly volatile movements favoriting bullish direction,
recommend stopping short positions or entering long position or bullish spread options strategy in online trading , because of the high expected future volatility, consider constructing symmetrical options strategies for buying volatility through strangles or straddles in online trading. .

Stock Resistance Levels : 3.01, 3.11, 3.18, 3.26.
Stock Support levels : 2.98, 2.97, 2.96, 2.96, 2.95, 2.93, 2.92, 2.91, 2.86,.