Today we will analyze the stock WOLONG ELECTRIC ‘A’CNY1 (600580.SS) for internet stock trading in the SS stock market,
Stock Technical indicators to notice in WOLONG ELECTRIC ‘A’CNY1 (600580.SS)
1- Last bullish trend was from 6.05 $ (4/23/2012) to 6.32 $ (5/1/2012) a 0.27 $ move 2- The current bearish trend started from 6.32 $ at 5/1/2012 and is currently trading at 6.20 $.
3- 600580.SS current support level is at 6.19 which is the 50.00 % fibonacci retracement of the last 0.27 $ move.
4- 600580.SS current resistance level is at 6.22 which is the 38.20 % fibonacci retracement of the last 0.27 $ move.
5- According to ADX Indicator, the trend is currently bearish,which is becoming weaker.
WOLONG ELECTRIC ‘A’CNY1 (600580.SS) Short term stock chart patterns for internet stock trading :

6- The Stock formed Double Top Pattern at 6.320 .
7- The Stock formed a 0.860 $ height triangle which was broken down at 6.320, target of the pattern is 5.460.
WOLONG ELECTRIC ‘A’CNY1 (600580.SS) Mid term stock chart patterns for internet stock trading :

8- The Stock was supported by a support line, identified by two points: 5.440 and 4.990, and is currently supporting at 5.593.
WOLONG ELECTRIC ‘A’CNY1 (600580.SS) Long term stock chart patterns for internet stock trading :

9- The Stock formed a 2.600 $ height triangle.

Stock Trading Conclusion:
WOLONG ELECTRIC ‘A’CNY1 (600580.SS) was trading in a bearish wave, which is becoming weaker .
Technical indicators and stock chart patterns show bearish direction,
recommend hedging long positions or entering short position or bearish spread options strategy in online trading .

Stock Resistance Levels : 6.22, 6.23, 6.25, 6.26, 6.26, 6.27, 6.32, 6.33, 6.66.
Stock Support levels : 6.19, 6.15, 6.05, 5.98, 5.88, 5.59,.