Today we will analyze the stock GUANGDONG RONGTAI ‘A’CNY1 (600589.SS) for internet stock trading in the SS stock market,
Stock Technical indicators to notice in GUANGDONG RONGTAI ‘A’CNY1 (600589.SS)
1- Last bearish trend was from 6.82 $ (4/25/2012) to 6.56 $ (4/27/2012) a 0.26 $ move 2- The current bullish trend started from 6.56 $ at 4/27/2012 and is currently trading at 6.78 $.
3- 600589.SS current support level is at 6.72 which is the 61.80 % fibonacci retracement of the last 0.26 $ move.
4- 600589.SS current resistance level is at 6.82 which is the 100.00 % fibonacci retracement of the last 0.26 $ move.
5- According to ADX Indicator, the trend is currently bullish,which is becoming weaker.
GUANGDONG RONGTAI ‘A’CNY1 (600589.SS) Short term stock chart patterns for internet stock trading :

6- The Stock formed Double Bottom Pattern at 6.560 .
7- The Stock formed a 0.570 $ height triangle which was broken up at 6.890 in higher than usual volume, target of the pattern is 7.460.
GUANGDONG RONGTAI ‘A’CNY1 (600589.SS) Mid term stock chart patterns for internet stock trading :

None.
GUANGDONG RONGTAI ‘A’CNY1 (600589.SS) Long term stock chart patterns for internet stock trading :

8- The Stock formed a 2.880 $ height triangle which was broken up at 6.440 in higher than usual volume, target of the pattern is 9.320.

Stock Trading Conclusion:
GUANGDONG RONGTAI ‘A’CNY1 (600589.SS) was trading in a bullish 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 : 6.82, 6.89, 6.98, 7.46, 9.32.
Stock Support levels : 6.73, 6.72, 6.70, 6.69, 6.67, 6.66, 6.64, 6.62, 6.61, 6.57, 6.56,.