Today we will analyze the stock Eight Dragons Co. (EDRG.OB) for internet stock trading in the OB stock market,
Stock Technical indicators to notice in Eight Dragons Co. (EDRG.OB)
1- Last bullish trend was from 1.35 $ (3/26/2012) to 2.98 $ (4/16/2012) a 1.63 $ move 2- The current bearish trend started from 2.98 $ at 4/16/2012 and is currently trading at 1.50 $.
3- EDRG.OB current support level is at 1.35 which is the 100.00 % fibonacci retracement of the last 1.63 $ move.
4- EDRG.OB current resistance level is at 1.97 which is the 61.80 % fibonacci retracement of the last 1.63 $ 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.
Eight Dragons Co. (EDRG.OB) Short term stock chart patterns for internet stock trading :

6- The Stock formed a 2.840 $ height triangle.
Eight Dragons Co. (EDRG.OB) Mid term stock chart patterns for internet stock trading :

7- The Stock formed a 2.840 $ height triangle.
Eight Dragons Co. (EDRG.OB) Long term stock chart patterns for internet stock trading :

8- The Stock formed a 2.840 $ height triangle.

Stock Trading Conclusion:
Eight Dragons Co. (EDRG.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 : 1.85, 1.97, 2.07, 2.16, 2.24, 2.36, 2.41, 2.60, 2.98,.
Stock Support levels : 1.35, 0.91,.