Today we will analyze the stock BAOYE GROUP (2355.HK) for internet stock trading in the HK stock market,
Stock Technical indicators to notice in BAOYE GROUP (2355.HK)
1- Last bullish trend was from 4.18 $ (3/29/2012) to 4.83 $ (4/25/2012) a 0.65 $ move 2- The current bearish trend started from 4.83 $ at 4/25/2012 and is currently trading at 4.50 $.
3- 2355.HK current support level is at 4.43 which is the 61.80 % fibonacci retracement of the last 0.65 $ move.
4- 2355.HK current resistance level is at 4.51 which is the 50.00 % fibonacci retracement of the last 0.65 $ 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.
BAOYE GROUP (2355.HK) Short term stock chart patterns for internet stock trading :

6- The Stock formed Double Bottom Pattern at 4.180 .
BAOYE GROUP (2355.HK) Mid term stock chart patterns for internet stock trading :

7- The Stock was supported by a support line, identified by two points: 4.170 and 3.150 that was broken down at 4.500 transforming into a resistance line.
BAOYE GROUP (2355.HK) Long term stock chart patterns for internet stock trading :

8- The Stock traded in a bearish stock channel identifed by support at 3.150 and 3.600,resistance between 3.930 and 4.080 which was broken up at 3.500 in higher than usual volume.

Stock Trading Conclusion:
BAOYE GROUP (2355.HK) was trading in a bearish wave, which is becoming weaker .
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 : 4.51, 4.58, 4.58, 4.61, 4.63, 4.66, 4.68, 4.70, 4.83,.
Stock Support levels : 4.43, 4.23, 4.21, 4.18, 4.18, 4.00, 3.78,.