Today we will analyze the stock TANGSHAN SANYOU CH ‘A’CNY1 (600409.SS) for internet stock trading in the SS stock market,
Stock Technical indicators to notice in TANGSHAN SANYOU CH ‘A’CNY1 (600409.SS)
1- Last bearish trend was from 7.29 $ (1/10/2012) to 6.89 $ (1/16/2012) a 0.40 $ move 2- The current bullish trend started from 6.89 $ at 1/16/2012 and is currently trading at 7.29 $.
3- 600409.SS current support level is at 7.29 which is the 100.00 % fibonacci retracement of the last 0.40 $ move.
4- 600409.SS current resistance level is at 7.40 which is the 127.20 % fibonacci retracement of the last 0.40 $ move.
5- According to ADX Indicator, the trend is currently strong bearish,which is becoming weaker.
TANGSHAN SANYOU CH ‘A’CNY1 (600409.SS) Short term stock chart patterns for internet stock trading :

6- The Stock formed a 1.900 $ height triangle which was broken up at 7.280 in higher than usual volume, target of the pattern is 9.180.
TANGSHAN SANYOU CH ‘A’CNY1 (600409.SS) Mid term stock chart patterns for internet stock trading :

None.
TANGSHAN SANYOU CH ‘A’CNY1 (600409.SS) Long term stock chart patterns for internet stock trading :

7- The Stock was resisted by a resistance line, identified by two points: 9.190 and 11.970 that was broken up at 7.340 transforming into a supporting line.

Stock Trading Conclusion:
TANGSHAN SANYOU CH ‘A’CNY1 (600409.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 : 7.40, 7.54, 9.18.
Stock Support levels : 7.20, 7.14, 7.11, 7.09, 7.04, 6.98, 6.89,.