Today we will analyze the stock ANGEL YEAST CO. LT ‘A’CNY1 (600298.SS) for internet stock trading in the SS stock market,
Stock Technical indicators to notice in ANGEL YEAST CO. LT ‘A’CNY1 (600298.SS)
1- Last bearish trend was from 28.64 $ (4/13/2012) to 26.30 $ (4/27/2012) a 2.34 $ move 2- The current bullish trend started from 26.30 $ at 4/27/2012 and is currently trading at 27.28 $.
3- 600298.SS current support level is at 27.19 which is the 38.20 % fibonacci retracement of the last 2.34 $ move.
4- 600298.SS current resistance level is at 27.47 which is the 50.00 % fibonacci retracement of the last 2.34 $ move.
5- According to ADX Indicator, the trend is currently bearish, which is getting stronger.
ANGEL YEAST CO. LT ‘A’CNY1 (600298.SS) Short term stock chart patterns for internet stock trading :

6- The Stock was resisted by a resistance line, identified by two points: 28.640 and 31.090 that was broken up at 27.280 transforming into a supporting line.
ANGEL YEAST CO. LT ‘A’CNY1 (600298.SS) Mid term stock chart patterns for internet stock trading :

7- The Stock formed a 7.010 $ height triangle which was broken up at 27.280, target of the pattern is 34.290 which was broken down at 27.250 in higher than usual volume, target of the pattern is 20.240.
ANGEL YEAST CO. LT ‘A’CNY1 (600298.SS) Long term stock chart patterns for internet stock trading :

8- The Stock was resisted by a resistance line, identified by two points: 31.090 and 32.880, and is currently resisting at 30.099.

Stock Trading Conclusion:
ANGEL YEAST CO. LT ‘A’CNY1 (600298.SS) was trading in a bearish wave, which is becoming stronger .
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 : 27.47, 27.66, 27.75, 28.64, 29.28, 30.09, 30.10, 34.29.
Stock Support levels : 27.26, 27.19, 27.05, 26.91, 26.85, 26.79, 26.67, 26.30,.