Today we will analyze the stock XIAMEN OVERSEAS CH ‘A’CNY1 (600870.SS) for internet stock trading in the SS stock market,
Stock Technical indicators to notice in XIAMEN OVERSEAS CH ‘A’CNY1 (600870.SS)
1- Last bearish trend was from 4.29 $ (4/20/2012) to 3.80 $ (5/3/2012) a 0.49 $ move 2- The current bullish trend started from 3.80 $ at 5/3/2012 and is currently trading at 3.99 $.
3- 600870.SS current support level is at 3.99 which is the 38.20 % fibonacci retracement of the last 0.49 $ move.
4- 600870.SS current resistance level is at 4.05 which is the 50.00 % fibonacci retracement of the last 0.49 $ 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.
XIAMEN OVERSEAS CH ‘A’CNY1 (600870.SS) Short term stock chart patterns for internet stock trading :

6- The Stock was resisted by a resistance line, identified by two points: 4.290 and 4.680, and is currently resisting at 4.182.
XIAMEN OVERSEAS CH ‘A’CNY1 (600870.SS) Mid term stock chart patterns for internet stock trading :

7- The Stock formed a 0.980 $ height triangle.
XIAMEN OVERSEAS CH ‘A’CNY1 (600870.SS) Long term stock chart patterns for internet stock trading :

8- The Stock formed a 0.980 $ height triangle.

Stock Trading Conclusion:
XIAMEN OVERSEAS CH ‘A’CNY1 (600870.SS) was trading in a bearish wave, which is becoming stronger .
Technical indicators and stock chart patterns show highly volatile movements favoriting no favorited direction,
recommend hold or waiting for entry , 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 : 4.05, 4.10, 4.18, 4.29, 4.42, 4.59.
Stock Support levels : 3.99, 3.95, 3.92, 3.92, 3.89, 3.87, 3.80,.