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 5.14 $ (5/28/2010) to 4.38 $ (6/10/2010) a 0.76 $ move 2- The current bullish trend started from 4.38 $ at 6/10/2010 and is currently trading at 4.73 $.
3- 1137.HK current support level is at 4.67 which is the 38.20 % fibonacci retracement of the last 0.76 $ move.
4- 1137.HK current resistance level is at 4.76 which is the 50.00 % fibonacci retracement of the last 0.76 $ move.
5- According to ADX Indicator, the trend is currently bearish,which is becoming weaker.
CITY TELECOM (1137.HK) Short term stock chart patterns for internet stock trading :

6- The Stock was resisted by a resistance line, identified by two points: 5.140 and 5.550 that was broken up at 4.840 transforming into a supporting line.
CITY TELECOM (1137.HK) Mid term stock chart patterns for internet stock trading :

7- The Stock was resisted by a resistance line, identified by two points: 5.140 and 6.110 that was broken up at 4.840 transforming into a supporting line.
CITY TELECOM (1137.HK) Long term stock chart patterns for internet stock trading :

8- The Stock was resisted by a resistance line, identified by two points: 6.110 and 6.770 that was broken up at 4.550 transforming into a supporting line.

Stock Trading Conclusion:
CITY TELECOM (1137.HK) was trading in a 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 : 4.76, 4.85, 5.14, 5.35, 5.61.
Stock Support levels : 4.67, 4.65, 4.60, 4.57, 4.56, 4.55, 4.52, 4.51, 4.41, 4.38,.