Today we will analyze the stock FANGDA CARBON NEW ‘A’CNY1 (600516.SS) for internet stock trading in the SS stock market,
Stock Technical indicators to notice in FANGDA CARBON NEW ‘A’CNY1 (600516.SS)
1- Last bullish trend was from 10.81 $ (4/17/2012) to 11.28 $ (4/20/2012) a 0.47 $ move 2- The current bearish trend started from 11.28 $ at 4/20/2012 and is currently trading at 11.01 $.
3- 600516.SS current support level is at 10.99 which is the 61.80 % fibonacci retracement of the last 0.47 $ move.
4- 600516.SS current resistance level is at 11.05 which is the 50.00 % fibonacci retracement of the last 0.47 $ move.
5- According to ADX Indicator, the trend is currently 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.
FANGDA CARBON NEW ‘A’CNY1 (600516.SS) Short term stock chart patterns for internet stock trading :

6- The Stock was supported by a support line, identified by two points: 10.810 and 10.560 that was broken down at 10.860 transforming into a resistance line.
FANGDA CARBON NEW ‘A’CNY1 (600516.SS) Mid term stock chart patterns for internet stock trading :

7- The Stock was supported by a support line, identified by two points: 10.180 and 9.090, and is currently supporting at 10.625.
FANGDA CARBON NEW ‘A’CNY1 (600516.SS) Long term stock chart patterns for internet stock trading :

8- The Stock was supported by a support line, identified by two points: 10.180 and 9.090, and is currently supporting at 10.625.

Stock Trading Conclusion:
FANGDA CARBON NEW ‘A’CNY1 (600516.SS) was trading in a bearish wave, which is becoming stronger .
Technical indicators and stock chart patterns show highly volatile movements favoriting bearish direction,
recommend hedging long positions or entering short position or bearish spread options strategy in online trading , 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 : 11.05, 11.07, 11.10, 11.11, 11.15, 11.17, 11.18, 11.27, 11.28,.
Stock Support levels : 10.99, 10.81, 10.68, 10.62,.