Today we will analyze the stock China Opportunity Acquisition Corp. (CHNQ.OB) for internet stock trading in the OB stock market,
Stock Technical indicators to notice in China Opportunity Acquisition Corp. (CHNQ.OB)
1- Last bearish trend was from 6.00 $ (3/6/2009) to 5.10 $ (3/20/2009) a 0.90 $ move 2- The current bullish trend started from 5.10 $ at 3/20/2009 and is currently trading at 5.55 $.
3- CHNQ.OB current support level is at 5.55 which is the 50.00 % fibonacci retracement of the last 0.90 $ move.
4- CHNQ.OB current resistance level is at 5.66 which is the 61.80 % fibonacci retracement of the last 0.90 $ move.
5- According to ADX Indicator, the trend is currently strong bearish, 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.
China Opportunity Acquisition Corp. (CHNQ.OB) Short term stock chart patterns for internet stock trading :

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China Opportunity Acquisition Corp. (CHNQ.OB) Mid term stock chart patterns for internet stock trading :

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China Opportunity Acquisition Corp. (CHNQ.OB) Long term stock chart patterns for internet stock trading :

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Stock Trading Conclusion:
China Opportunity Acquisition Corp. (CHNQ.OB) was trading in a strong bearish wave, which is becoming stronger .
Technical indicators and stock chart patterns show highly volatile movements favoriting no favorited direction,
recommend hold or waiting for entry , 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 : 5.66, 6.00, 6.24, 6.56.
Stock Support levels : 5.44, 5.38, 5.32, 5.31, 5.27, 5.10,.