Today we will analyze the stock ZHEJIANG MEDICINE ‘A’CNY1 (600216.SS) for internet stock trading in the SS stock market,
Stock Technical indicators to notice in ZHEJIANG MEDICINE ‘A’CNY1 (600216.SS)
1- Last bullish trend was from 19.35 $ (1/16/2012) to 21.21 $ (1/20/2012) a 1.86 $ move 2- The current bearish trend started from 21.21 $ at 1/20/2012 and is currently trading at 20.57 $.
3- 600216.SS current support level is at 20.50 which is the 38.20 % fibonacci retracement of the last 1.86 $ move.
4- 600216.SS current resistance level is at 20.77 which is the 23.60 % fibonacci retracement of the last 1.86 $ move.
5- According to ADX Indicator, the trend is currently strong bearish,which is becoming weaker.
ZHEJIANG MEDICINE ‘A’CNY1 (600216.SS) Short term stock chart patterns for internet stock trading :

6- The Stock traded in a bullish stock channel identifed by support at 19.350 and 18.780,resistance between 21.210 and 20.590, the stock channel is currently supported from below by 20.110 and resisted from above by 21.564.
ZHEJIANG MEDICINE ‘A’CNY1 (600216.SS) Mid term stock chart patterns for internet stock trading :

7- The Stock formed a 8.570 $ height triangle which was broken up at 20.450, target of the pattern is 29.020.
ZHEJIANG MEDICINE ‘A’CNY1 (600216.SS) Long term stock chart patterns for internet stock trading :

8- The Stock was resisted by a resistance line, identified by two points: 27.350 and 36.270 that was broken up at 21.210 transforming into a supporting line.

Stock Trading Conclusion:
ZHEJIANG MEDICINE ‘A’CNY1 (600216.SS) was trading in a strong bearish wave, which is becoming weaker .
Technical indicators and stock chart patterns show bullish direction,
recommend stopping short positions or entering long position or bullish spread options strategy in online trading .

Stock Resistance Levels : 20.72, 20.77, 20.81, 20.89, 20.97, 21.21, 29.02.
Stock Support levels : 20.50, 20.28, 20.06, 19.98, 19.35, 18.97, 18.84,.