Today we will analyze the stock STAR LAKE BIOSCIEN ‘A’CNY1 (600866.SS) for internet stock trading in the SS stock market,
Stock Technical indicators to notice in STAR LAKE BIOSCIEN ‘A’CNY1 (600866.SS)
1- Last bearish trend was from 6.87 $ (4/19/2012) to 6.19 $ (5/2/2012) a 0.68 $ move 2- The current bullish trend started from 6.19 $ at 5/2/2012 and is currently trading at 6.40 $.
3- 600866.SS current support level is at 6.35 which is the 23.60 % fibonacci retracement of the last 0.68 $ move.
4- 600866.SS current resistance level is at 6.45 which is the 38.20 % fibonacci retracement of the last 0.68 $ move.
5- According to ADX Indicator, the trend is currently strong 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.
STAR LAKE BIOSCIEN ‘A’CNY1 (600866.SS) Short term stock chart patterns for internet stock trading :

6- The Stock traded in a bearish stock channel identifed by support at 6.190 and 6.620,resistance between 6.870 and 7.000, the stock channel is currently supported from below by 6.094 and resisted from above by 6.480.
STAR LAKE BIOSCIEN ‘A’CNY1 (600866.SS) Mid term stock chart patterns for internet stock trading :

7- The Stock formed a 2.950 $ height triangle which was broken up at 6.340, target of the pattern is 9.290 which was broken down at 6.790 in higher than usual volume, target of the pattern is 3.840.
STAR LAKE BIOSCIEN ‘A’CNY1 (600866.SS) Long term stock chart patterns for internet stock trading :

8- The Stock formed Double Bottom Pattern at 5.270 .

Stock Trading Conclusion:
STAR LAKE BIOSCIEN ‘A’CNY1 (600866.SS) was trading in a strong bearish wave, which is becoming stronger .
Technical indicators and stock chart patterns show highly volatile movements favoriting bullish direction,
recommend stopping short positions or entering long position or bullish 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 : 6.45, 6.53, 6.61, 6.87, 7.05, 7.06, 7.29, 9.29.
Stock Support levels : 6.35, 6.35, 6.32, 6.30, 6.27, 6.19, 6.19, 5.04,.