Today we will analyze the stock CHINA 1ST PENCIL C ‘A’CNY1 (600612.SS) for internet stock trading in the SS stock market,
Stock Technical indicators to notice in CHINA 1ST PENCIL C ‘A’CNY1 (600612.SS)
1- Last bearish trend was from 28.98 $ (4/13/2012) to 27.03 $ (4/24/2012) a 1.95 $ move 2- The current bullish trend started from 27.03 $ at 4/24/2012 and is currently trading at 28.33 $.
3- 600612.SS current support level is at 28.24 which is the 61.80 % fibonacci retracement of the last 1.95 $ move.
4- 600612.SS current resistance level is at 28.98 which is the 100.00 % fibonacci retracement of the last 1.95 $ move.
5- According to ADX Indicator, the trend is currently strong bearish,which is becoming weaker.
CHINA 1ST PENCIL C ‘A’CNY1 (600612.SS) Short term stock chart patterns for internet stock trading :

6- The Stock formed a 3.540 $ height triangle which was broken up at 28.470 in higher than usual volume, target of the pattern is 32.010.
CHINA 1ST PENCIL C ‘A’CNY1 (600612.SS) Mid term stock chart patterns for internet stock trading :

7- The Stock formed a 9.390 $ height triangle which was broken up at 27.670, target of the pattern is 37.060.
CHINA 1ST PENCIL C ‘A’CNY1 (600612.SS) Long term stock chart patterns for internet stock trading :

8- The Stock was resisted by a resistance line, identified by two points: 33.700 and 35.700, and is currently resisting at 32.240.

Stock Trading Conclusion:
CHINA 1ST PENCIL C ‘A’CNY1 (600612.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 : 28.98, 29.51, 30.19, 32.01, 32.24, 37.06.
Stock Support levels : 28.24, 28.02, 28.01, 27.83, 27.83, 27.77, 27.68, 27.53, 27.49, 27.12, 27.03,.