Today we will analyze the stock SHANGHAI PRIME (2345.HK) for internet stock trading in the HK stock market,
Stock Technical indicators to notice in SHANGHAI PRIME (2345.HK)
1- Last bullish trend was from 1.21 $ (4/17/2012) to 1.26 $ (4/19/2012) a 0.05 $ move 2- The current bearish trend started from 1.26 $ at 4/19/2012 and is currently trading at 1.20 $.
3- 2345.HK current support level is at 1.20 which is the 127.20 % fibonacci retracement of the last 0.05 $ move.
4- 2345.HK current resistance level is at 1.21 which is the 100.00 % fibonacci retracement of the last 0.05 $ move.
5- According to ADX Indicator, the trend is currently strong bearish,which is becoming weaker.
SHANGHAI PRIME (2345.HK) Short term stock chart patterns for internet stock trading :

6- The Stock was resisted by a resistance line, identified by two points: 1.260 and 1.290 that was broken up at 1.230 transforming into a supporting line.
SHANGHAI PRIME (2345.HK) Mid term stock chart patterns for internet stock trading :

7- The Stock was supported by a support line, identified by two points: 1.280 and 1.130 that was broken down at 1.400 transforming into a resistance line.
SHANGHAI PRIME (2345.HK) Long term stock chart patterns for internet stock trading :

8- The Stock was supported by a support line, identified by two points: 1.100 and 1.040 that was broken down at 1.250 transforming into a resistance line.

Stock Trading Conclusion:
SHANGHAI PRIME (2345.HK) was trading in a strong bearish wave, which is becoming weaker .
Technical indicators and stock chart patterns show bearish direction,
recommend hedging long positions or entering short position or bearish spread options strategy in online trading .

Stock Resistance Levels : 1.21, 1.21, 1.22, 1.23, 1.23, 1.24, 1.24, 1.24, 1.25, 1.26, 1.27, 1.80.
Stock Support levels : 1.20, 1.19,.