Today we will analyze the stock ICBC (1398.HK) for internet stock trading in the HK stock market,
Stock Technical indicators to notice in ICBC (1398.HK)
1- Last bullish trend was from 4.63 $ (2/5/2014) to 4.86 $ (2/17/2014) a 0.23 $ move 2- The current bearish trend started from 4.86 $ at 2/17/2014 and is currently trading at 4.51 $.
3- 1398.HK current support level is at 4.49 which is the 161.80 % fibonacci retracement of the last 0.23 $ move.
4- 1398.HK current resistance level is at 4.57 which is the 127.20 % fibonacci retracement of the last 0.23 $ move.
5- According to ADX Indicator, the trend is currently bearish,which is becoming weaker.furthermore, the ADX indicator location between DMI+ and DMI- is hinting on a strong move ahead. the stock is very volatile at this point.
ICBC (1398.HK) Short term stock chart patterns for internet stock trading :

6- The Stock formed Double Top Pattern at 4.860 .
ICBC (1398.HK) Mid term stock chart patterns for internet stock trading :

7- The Stock formed Double Top Pattern at 5.600 .
8- The Stock formed a 1.050 $ height triangle which was broken down at 5.360 in higher than usual volume, target of the pattern is 4.310.
ICBC (1398.HK) Long term stock chart patterns for internet stock trading :

None.

Stock Trading Conclusion:
ICBC (1398.HK) was trading in a bearish wave, which is becoming weaker .
Technical indicators and stock chart patterns show highly volatile movements favoriting bearish direction,
recommend hedging long positions or entering short position or bearish 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 : 4.57, 4.59, 4.63, 4.64, 4.69, 4.72, 4.73, 4.74, 4.77, 4.81, 4.86, 5.59, 5.82.
Stock Support levels : 4.49,.